SteelOrbis Shanghai
China's second largest steel producer, Liaoning Province-based Angang Steel Company Ltd, has announced its financial results for the first half of 2007.
Accordingly, the sales revenue of the company totaled RMB 33.04 billion ($4.35 billion) in the first six months of the year, up around 32 percent year on year. Meanwhile, the net profit of the company increased nearly 54 percent year on year, reaching RMB 4.8 billion ($6.33 billion) in the same period.
In the first six months of the current year, the company produced 7.87 million metric tons of crude steel and 7.41 million metric tons of finished steel, up 8.4 percent and 9.7 percent respectively.
Meanwhile, the operating profit margin of the company rose from 19 percent in the first half of 2006 to 22 percent.