August 29 -- Minmetals Development (RCode:600058) posted a 76.24-percent increase in net profit to 659 million yuan in the first half of 2011, reports yicai.com, citing a company filing. Sales revenue in the same period grew 9.55 percent to 69.5 billion yuan. Percentage changes cited in this story are year-on-year.

The company posted an 11.26 percent increase in metallurgy trade to 67.22 billion yuan in the first six months, with a gross margin of 2.41 percent, down 0.87 percentage points from last year.

In the past six months, the company received investment income of 122 million yuan by selling a 4.08-percent stake in Ningbo United Group (600051).

Minmetals Development targets total sales revenue of 135 billion yuan for the whole year 2011.

Source:CapitalVue