Western Mining reports tenfold profit surge in 1H
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Western Mining Co., China's second-largest maker of lead concentrate, said Thursday that profits in the first half of 2010 jumped 1,175 percent to hit 581 million yuan (85.8 million U.S. dollars).
Total revenues for the company during the January-to-June period rose 79 percent to 7.82 billion yuan, the company said in a statement filed with the Shanghai Stock Exchange.
Western Mining Co. attributed the strong growth to the increase in trade revenues, which surged by 2.5 billion yuan in the first six months, a rise of 119 percent from one year earlier.
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