Chinese aluminium giant Chalco announced an increase in net profit and revenue in the first nine months of 2017. The company’s net profit jumped more than tenfold year-on-year on higher aluminium prices.
According to news published by Reuters, Chalco posted 1.36 billion yuan ($205 million) in profit during January- September, from 124.27 million yuan a year earlier.
The company said in a filing to the Shanghai stock exchange that its revenue rose 52.5 per cent in the mentioned period. Chalco generated revenue of 139.9 billion in January- September.
The company also announced its plans to add 16 billion yuan of investment into five of its subsidiaries.
“At present, the company is implementing the relevant decision-making procedures and has not yet entered into any formal agreement with investors,” it said.
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