Prosperity Minerals sees FY net profit at least 20 per cent above market expectations

Prosperity Minerals sees FY net profit at least 20 per cent above market expectations
Published: 29 January 2008

Prosperity Minerals Holdings Ltd, a cement manufacturer and iron ore trader in China, said it expects its net profit for the year ending March 31 will be at least 20 per cent ahead of current market expectations.  
 
Both the cement and iron ore divisions benefited from strong demand, the company said.  
 
The company added that iron ore trading shipments from Asia increased from the same period last year which, in turn, enhanced overall profit margins. Iron ore shipments rose 74 pct from last year to 1.06 mln tonnes, it said.