Nanshan Aluminium predicted net profit of Q3 down 50% and above year-on-year

Nanshan Aluminium predicted net profit of Q3 down 50% and above year-on-year, resulted from rise of raw material prices that exerted production cost. However, prices of its products were reduced, affected by the macro-economy.

Nanshan Aluminium announced on October 24 that it was predicted to lose net profit by 50% or more in Q3 2008, year-on-year to 2007 when net profit of 266970 yuan and earnings per share of 0.20 yuan were realized.

Weak in achievements was caused by the persistent soar of raw material prices. Cost of the company has been increasing largely since 2007, added by the unstable macro-economy that restrained product prices to a low level.

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