Bayi Steel’s net profit down 19.31 percent in 2011

Monday, 30 January 2012 15:47:50 (GMT+2)

Xinjiang Uyghur Autonomous Region-based Chinese steelmaker Bayi Iron and Steel Co. (Bayi Steel), a subsidiary of major Chinese steel group Baosteel, has announced a net profit of RMB 424 million ($67.3 million) for 2011, down 19.31 percent year on year. Meanwhile, its average earnings per share (EPS) in 2011 came to RMB 0.55 ($0.087).

In addition, Bayi Steel's total operating revenue in 2011 reached RMB 27.95 billion ($4.44 billion), up 18.11 percent year on year.

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