Jiangxi Copper’s Q1 Profit Dropped 9.6%

Bloomberg reported that Jiangxi Copper’s (SHA:600362) first quarter profit dropped 9.6 percent due to lower prices.

As quoted in the market news:

Net income declined to 1.43 billion yuan ($227 million), or 0.41 yuan a share, for the three months ended March 31 from 1.59 billion yuan, or 0.46 yuan, a year ago, the Guixi, Jiangxi province-based company said today in a statement to the Shanghai stock exchange, citing Chinese accounting standards. Sales climbed 14 percent to 28.8 billion yuan.

Click here to read the full Bloomberg report.