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Jiangxi Copper Third-Quarter Profit Falls on Writedown, Tax
Oct. 25, 2011 02:10PM PST
Base Metals Investing Bloomberg reported that Jiangxi Copper Co.’s (SHA:600362) third-quarter profit plunged 2.8 percent due to higher taxes, a decline in inventory value and a paper loss from futures trading.
Bloomberg reported that Jiangxi Copper Co.’s (SHA:600362) third-quarter profit plunged 2.8 percent due to higher taxes, a decline in inventory value and a paper loss from futures trading.
As quoted in the market news:
Net income dropped to 1.24 billion yuan ($195 million), or 0.37 yuan a share, from 1.28 billion yuan, or 0.42 yuan, a year earlier, the company said today in a statement to the Shanghai stock exchange. Sales rose 56 percent to 30.6 billion yuan from 19.6 billion yuan.
