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Hontron Aluminum Industry Forecasts Up to 81% Rise in H1 Profit; Shares Jump 10%

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Shandong Hontron Aluminum Industry (SHE:002379) forecasted first-half attributable net profit of between 15 billion yuan and 16 billion yuan, compared with 8.84 billion yuan the previous year.

The 70% to 81% rise is attributed to higher electrolytic aluminum prices and significantly reduced borrowing costs after the company cut its debt scale, according to a weekend filing with the Shenzhen bourse.

Basic earnings per share are projected at 1.15 yuan to 1.23 yuan, versus 0.68 yuan a year earlier.

Shares of the aluminum company jumped 10% in recent trade.

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