Shandong Gold Mining Foresees Up to 65% Rise in H1 Profit

MT Newswires Live07-12

Shandong Gold Mining (HKG:1787, SHA:600547) foresees its attributable profit will rise 42% to 65% to between 1.25 billion yuan and 1.45 billion yuan in the first half from 880 million yuan in the year-ago period, according to a Thursday filing with the Hong Kong Stock Exchange.

The miner attributes the upbeat forecast to improved production and technical innovation while reducing costs and boosting efficiency, the filing said.

Gold prices during the period also increased. It also recognized gains from the purchase of Yintai Gold, the filing said.

Shares closed 3% lower in Hong Kong during Friday's trading.

Price (HKD): $16.54, Change: $-0.44, Percent Change: -2.59%

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