Wanfang Aluminum Q3 Net Profits Dived 63.78%

Jiaozuo Wanfang Aluminum Manufacturing Co., Ltd. says today that it reaped net profits of CNY 67.897 million in July-September 2008, slumping 63.78% from a year ago, hurt by rising cost and declining aluminium product prices.

The aluminium producer gained operating revenue of CNY 1.489 billion, increasing from CNY 1.205 billion a year ago, thanks to rising sales of its products. However, its operating profits dropped from CNY 277.338 million to CNY 92.2446 million, due to rising unit production cost resulted from electricity and raw material markups. Basic earnings per share stood at CNY 0.141.

Besides, Wanfang Aluminum gained net profits of CNY 490.01 million, operating revenue of CNY 4.9436 billion and basic earnings per share of CNY 1.02 in January-September 2008.

Based in North China's Jiaozuo City, Wanfang Aluminum is engaged in smelting and processing aluminium, aluminium ingot and molten aluminium. It is 29% owned by China Aluminum Corporation of China Ltd. (Chalco).

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