Nonferrous Metal Engineering Returns To Profit


August 23 -- China Nonferrous Metal Industry's Foreign Engineering and Construction, a manufacturer of metal products and machinery, returned to profit in the first half of 2011, posting net profit of 129 million yuan, with earnings per share (EPS) of 0.202 yuan, reports, citing a company filing.

The company had incurred a loss of 42.29 million yuan in the first half of 2010. 

Revenue increased 60.9 percent year-on-year to 4.37 billion yuan.

The company forecasts a 1,450-1,500 percent year-on-year surge in net profit for the first three quarters to 162-168 million yuan, with EPS of 0.212-0.219 yuan, due to the hike in the prices of rare earth.



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