Rare Earth Producer Rising Nonferrous Expects to Turn to Profit in 2014

BEIJING (SMM): China’s Rising Nonferrous Metals Group Co. says the sharp rise in sales revenue will bring it back to profitability in 2014, according to its statement filed to the Shanghai Stock Exchange.

Rising Nonferrous expects to earn a net profit of 15-20 million yuan ($2.4-3.3 million) for the fiscal year of 2014, compared with a 78.7-million-yuan loss in 2013.

Sharp increase in sales income and rising non-operating revenue are considered the major contributors to the turnaround.

Courtesy: www.metal.com