Jiangsu Etern's H1 Profit to Surge Up to 922%; Shares Slip 1%

MT Newswires Live07-14

Jiangsu Etern (SHA:600105) expects its net profit attributable to shareholders during the first half to skyrocket between 731% and 922% year on year, according to a Saturday filing on the Shanghai bourse.

The telecommunication cable and wire manufacturer's shares slipped over 1% during the Monday afternoon trade.

The first-half attributable profit for this year will be between 260 million yuan and 320 million yuan, higher than 31.30 million yuan in the prior year.

Etern attributed the forecast to an investment income of 290 million yuan from associate Dongchang Investment, which was driven by gains from project subsidiary disposals in Dongchang's real estate business.

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