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Chalco Reports Higher Net Profit in 2019

Metal News - Published on Fri, 27 Mar 2020

Image Source: steelguru.com
China’s biggest state run aluminium producer Aluminum Corp of China Ltd announced that its net income rose 2.4% year-on-year in 2019 thanks to higher trading volumes, even as production fell and the company barely eked out a profit in the fourth quarter. Chalco posted net income of at CNY 851 million (USD 120 million) for the full year, versus an adjusted figure of CNY 831 million for 2018. Chalco’s annual revenue came in at CNY 190 billion, up 5.5% year-on-year despite an 8.8% drop in the primary aluminium segment and a 0.6% fall in sales of alumina

Chalco said “The company’s market influence has increased, and a rise in the trade volume of electrolytic aluminium and alumina products has led to higher revenue.”

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Posted By : Rabi Wangkhem on Fri, 27 Mar 2020
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