Alcha Aluminium Foresees 30% Drop in Jan-Sep Net Profits

CHANGSHU, August 18, SinoCast -- Jiangsu Alcha Aluminium Co., Ltd. (SZSE: 002160) predicted on August 16, 2008 that its net profits for January-September 2008 would drop less than 30% from a year ago, hurt by rising interest rate, stronger renminbi and increasing prices of electricity and refined oil. The company reaped net profits of CNY 28.4935 million in January-June, 13.5% less than a year ago, hurt by hiking costs and expenditures. It gained operating profits of CNY 36.1982 million and total profits of CNY 38.0567 million, slumping 25.38% and 22.6% year on year, respectively. Basic earnings per share stood at CNY 0.168. Alcha Aluminium sold 38,708 tons of aluminum strips and foils in the period, climbing 6.7% year on year. Sales of its major product hydrophilic-coated aluminum foil reached 23,358 tons, inching up 2%, and sales of aluminum alloy foils rocketed 91.6% to 5,057 tons. Based in East China's Changshu City, Alcha Aluminium is engaged in producing and selling aluminum foils, aluminum products, aluminum plates and aluminum ribbons.