Chongqing Steel’s net profit falls by 86 percent in 2009

Friday, 23 April 2010 12:37:11 (GMT+3)   |  
       

According to its 2009 annual report, Chinese steelmaker Chongqing Iron and Steel recorded a net profit of RMB 84.029 million ($12.32 million) for the year in question, down 85.96 percent year on year, while earnings per share came to RMB 0.05 ($0.007) compared to RMB 0.35 ($0.051) in 2008. Annual sales revenue in 2009 came to RMB 10.654 billion ($1.562 billion), down 35.5 percent year on year.

In 2009, the company produced 1,349,700 mt of coke, 2,941,900 mt of pig iron, 3,220,400 mt of crude steel and 3,000,700 mt of finished steel. Coke, crude steel and finished steel registered year-on-year decreases of 1.27 percent, 4.09 percent and 6.59 percent respectively, while the pig iron output increased by 0.57 percent year on year.


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