Baotou Steel posts sharp drop in net profit in Q3

Wednesday, 27 October 2010 14:36:36 (GMT+3)   |  
       

Inner Mongolia Autonomous Region-based Chinese steelmaker Baotou Iron and Steel Corporation Ltd announced its Q3 2010 results on October 26. The steelmaker's net profits in the third quarter reached RMB 130 million ($19.4 million), seeing a very sharp drop from a net profit of RMB 418.633 million in Q3 2009, while its turnover amounted to approximately RMB 10.49 billion ($1.57 billion), up 39.6 percent year on year.

In the first three quarters of this year, Baotou Iron and Steel recorded a net profit of RMB 504 million ($75 million), compared to last year's net loss of RMB 329 million ($49 million), while its turnover reached RMB 29.386 billion ($4.4 billion), up 18.46 percent, both compared to the first nine months of 2009. 


Similar articles

Baogang Group posts gross profit of RMB 690 million for January

09 Feb | Steel News

Baogang’s net profit increases by 3,188 percent in H1

27 Aug | Steel News

Baogang Group’s crude steel output up 6.75 percent in H1

27 Jul | Steel News

Baogang’s H1 net profit to increase by 2,281-3,233 percent

13 Jul | Steel News

Baogang Group achieves net profit of RMB 1.76 billion in H1

08 Aug | Steel News

Shougang Steel and Baogang incur net losses in Q1

25 Apr | Steel News

Baogang Rare-Earth’s net profit up 149.44 percent in Q1

20 Apr | Steel News

Baogang’s finished steel sales revenue totals RMB 40.9 billion in 2011

10 Feb | Steel News

Baogang Group earns $622 million from steel exports in 2011

18 Jan | Steel News

Baogang Group's sales revenue reaches RMB 50.1 billion in Jan-Oct.

02 Dec | Steel News