China Hongqiao Group's H1 Attributable Profit Soars 273%

MT Newswires Live08-19

China Hongqiao Group's (HKG:1378) attributable profit surged 273% to 9.15 billion yuan in the first half from 2.46 billion yuan in the year-ago period, according to a Friday filing with the Hong Kong Stock Exchange.

Earnings per share at the aluminum producer soared 273% to 0.966 yuan from 0.259 yuan in the previous year. Analysts by Visible Alpha estimated EPS of 0.60 yuan.

Revenue grew 12% to 73.6 billion yuan from 65.7 billion yuan a year earlier, lower than Visible Alpha analysts' forecast of 74.18 billion yuan.

The company declared an interim dividend of HK$0.59 per share, payable Dec. 6 to shareholders on record as of Nov. 22.

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