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China Moly 08 net fell 26.77% |
China Molybdenum Co., Ltd. (SEHK: 3993) gained net profit of CNY 1.641 billion in 2008, plunging 26.77% from a year earlier, the Luoyang-based molybdenum producer yesterday announced in its audited 2008 financial results. Although the company saw a modest increase in its total sales volume of molybdenum products such as molybdenum oxide and ferromolybdenum in 2008, it still recorded a reduction in turnover, mainly due to the rapid decrease in the selling price of molybdenum products. The price was mainly driven down by the intensifying global financial crisis in the fourth quarter of 2008.Turnover decreased 5.7% year over year to about CNY 5.563 billion, gross profit down 24.9% to CNY 2.72 billion, and pre-tax profit down 29.6% to CNY 2.505 billion. Basic earnings reached CNY 0.34 per share. And a final dividend of CNY 0.158 per share was proposed, compared with CNY 0.128 in the previous year. |
| addtime:2009-4-2 14:32:12 print |
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