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Rare-earth firms post rocky H1

Updated: 2013-09-04 07:44
By Wang Zhuoqiong ( China Daily)

First-half financial statements for listed rare-earth companies show an industry grappling with plunging profits and flat revenue, but analysts said the sector is getting back to normal as prices and demand recover.

According to the interim reports of 32 listed rare-earth producers, total first-half earnings fell 46.6 percent to 2.9 billion yuan ($473.8 million).

Five of the companies reported a loss. Another 27 made a profit, but in each case, the number was lower than in the first half of 2012. Aggregate first-half revenue rose a mere 1.4 percent to 123.5 billion yuan.

Rare-earth firms post rocky H1