China's largest zinc producer Zhuzhou Smelter Group (600961.SS) said on Monday its net profit in 2008 dropped by at least 50 percent compared with the previous year's result.

Impacted by the financial crisis, the demand for zinc has plunged dramatically at home and abroad and prices have dived, the company said in a statement.

The statement did not specify the results, which will appear in a future announcement.

Business was also hurt by a production halt during the icy weather in early 2008 and a power tariff increase since last July, the company said in a Shanghai Stock Exchange filing.

The firm recorded a net profit of 79.5 million yuan ($11.6 million), or 0.16 yuan per share, in 2007. (Reporting by Michael Wei; Editing by Chris Buckley and David Holmes)

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