Prosperity Minerals Q2 pretax rises

Prosperity Minerals Q2 pretax rises
Published: 11 December 2007

Prosperity Minerals Holdings Ltd said its second quarter pretax rose by 115 per cent due to higher demand for cement and iron ore in its main market, the Guangdong Province in China.  
 
The company, which has a cement manufacturing and iron ore trading business in China said its pretax profit for the second quarter ended Sept 30 rose to US$11.2m from US$5.2m, while revenues grew 40 per cent to US$104m from US$74.4m a year ago.  
 
It said the demand for cement and coal remains strong, with prices maintaining an upward trend, adding it sees financial year results in line with market expectations.  
 
The company said its interim dividend remains unchanged at 6 cents per share.