Loften Aluminum Foil H1 earnings down by 31pct

Shandong Loften Aluminum Foil posted 30.63% YoY fall in net profits for the H1 of 2011 to CNY 10.98 million.

As per report, sales revenues grew 58.75% YoY to CNY 807.44 million during that period. In its reporting, the firm included depreciation and financial expenses for one project with capacity of 50,000 tonnes of high precision aluminum foil that was put into partial operation. The project incurred a loss of CNY 13.06 million for that period.

Loften Foil predicts net profits attributable to shareholders for the first Q3 will grow as much as 30%.

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