Baotou rare earth Q1 earnings up by 277pct
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Monday, 02 May 2011
Inner Mongolia Baotou Steel Rare Earth High Tech Q1 2011 net profit surged 276.96% YoY to CNY 484 million with earnings per share of CNY 0.599. Revenue rose 116.05% to CNY 2.12 billion.
The company attributes the earnings growth to the higher prices of rare earth minerals, higher government subsidies and an increase in investment returns. It forecasts a continued YoY surge in first half 2011 net profit.
(Sourced from www.capitalvue.com)
