Simsen interim profit soars

Metals and commodities futures trader Simsen Metals (Holdings) says net profits rose 83 per cent to $8.7 million for the six months to October 31, despite a 32 per cent decline in revenue. Turnover was $895 million, down from $1.3 billion a year earlier. It attributed the increased earnings to a 75 per cent reduction in losses from associates. No dividend will be paid. Earnings per share were 1.37 cents, down from 1.13 cents a year earlier.