China Metal Resources Utilization or CMRU (HKG:1636) saw a decline in attributable loss for the six months ended June 30 to 221.7 million yuan from 496.4 million yuan during the year-ago period, a Wednesday bourse filing stated.
Loss per share stood at 0.05 yuan, down from 0.11 yuan during the first half of 2023.
The copper products manufacturer saw its revenue for the half year swell by 321% to 454.2 million yuan from 141.5 million yuan a year prior.
The rise in revenue was mainly due to a significant rise in copper prices on the Shanghai Futures Exchange driven by strong demand and recovery efforts in the infrastructure and manufacturing niches.
The decrease in loss was mainly due to a lower provision for doubtful debts and impairment of advance payments to suppliers.
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