December 02, 2008

Huludao Zinc H1 net profit down by 42% YoY

Shenzhen listed Huludao Zinc Industry Co Ltd announced that its net profits during January to June 2007 fell to CNY 116.59 million (USD 15.37 million) down by 41.98% YoY.

According to an interim report released by Shenzhen, during January to June 2007 Shenzhen made CNY 110.56 (USD 14.58 million) in non operational revenue, generated through a local government income tax exemption and a debt asset swap. As the company did not encounter the same opportunities in the first half of this year net profit declined.

However, Huludao Zinc did manage to record an operating revenue of CNY 4.89 billion (USD 644.59 million) in the January to June 2007 period lifting by 72.74% YoY as compared to January to June 2006 on the back of an increase in both zinc product production and prices.