August 15 -- Yunnan Aluminum (000807) posted a 177.49 percent year-on-year increase in first half 2011 net profit to 31.35 million yuan, reports China Business News, citing a company filing.

Sales revenue rose 24.14 percent year-on-year to 3.991 billion yuan.

During the first six months, Yunnan Aluminum produced 263,600 tons of raw aluminum, an increase of 14.05 percent year-on-year, while production of aluminum ingots and processed aluminum products rose 11.85 percent year to 260,900 tons.

The company attributed the increase in net profit to rising aluminum prices.

Sales of aluminum ingots and processed products were up 20.42 percent year-on-year to 262,000 tons.

The price of electrolytic aluminum rose from 16,500 yuan per ton in May to 18,500 yuan per ton in August.

Yunnan Aluminum will put into operation later this year an 800,000-tons capacity aluminum oxide production plant and production capacity of 300,000 tons of electrolytic aluminum.

Source:capitalvue