China Minmetals Development Co, the Shanghai-listed arm of China Minmetals reported on Saturday a 185 per cent increase in its net profit during the first half of the year, thanks to thriving domestic trade.

The firm's combm ined net profit reached 352 million yuan (US$42.6 million).

"Internal trade volume jumped by 151.21 per cent to 15.7 billion yuan (US$2 billion) from January to June," the company said in its first half report.

The figure, for the first time, exceeded the company's imports during the same period, helping the company cushion risks on the international market.

However, the growth rate in the third quarter might slow down due to "market changes," the company said.

It believes the net profit growth from July to September will only surpass 50 per cent on a yearly basis.

(China Daily 08/31/2004 page10)