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CITIC Metal's H1 Profit to Jump Up to 90%

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CITIC Metal (SHA:601061) expects its net profit attributable to owners in the first half to jump by between 73% and 90% year on year to a range of 2.50 billion yuan and 2.75 billion yuan, according to a Shanghai bourse filing on Wednesday.

The attributable profit a year earlier was 1.45 billion yuan, or 0.30 yuan per share.

The forecast was attributed to the increase in commodity prices and growth in the company's share of profits from its investment projects, such as the Las Bambas mining project.

The Chinese iron ore company's shares rose 2% at the close.

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