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Jiangsu Lettall Electronic Forecasts Up to 198% Jump in H1 Profit

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Jiangsu Lettall Electronic (SHA:603629) forecasted first-half attributable net profit of between 2.14 billion yuan and 2.37 billion yuan, compared with 795.7 million yuan the previous year.

The 169% to 198% jump is attributed to capacity expansion at Yubang Mining boosting silver sales, higher prices for silver and tin products, and a 454-million-yuan gain from the sale of a 60% stake in Shuangyuan Nonferrous, according to a Wednesday filing with the Shenzhen bourse.

Basic earnings per share are expected to rise to 1.2052 yuan to 1.3347 yuan, versus 0.4481 yuan last year.

Shares of the precision metal stamping components manufacturer slid 1% Wednesday.

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