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China Vanadium Titano-Magnetite Mining Co Ltd Comments On FY 2012 Profit Guidance


Thursday, 24 Jan 2013 03:38am EST 

China Vanadium Titano-Magnetite Mining Co Ltd announced that the Group expects to record a decline in profit by no more than 40% for fiscal 2012, as compared with the profit recorded for fiscal 2011. The decrease in profit is mainly attributable to the decrease in sales volume and market prices of iron ore products during fiscal 2012, as compared to that for fiscal 2011. The Company reported Net Income of $605.89 million in fiscal 2011. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report Net Income of $356.5 million for fiscal 2012. 

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