CSC has tripled its pre-tax earning
Taiwanese mill
China Steel Corporation (
CSC) has recently announced that in January-August period it has obtained a pre-tax profit of NTD29.8 billion ($873million), which is more than three times of its income in the same period last year. Moreover, this amount corresponds to 81.5% of the target for 2003.
According to company's unaudited monthly notice, with volume of 6.95 million tons
production, sales have reached up to NTD84.2 billion, representing 75.2% of the target for the year.
The company's pre-tax earnings, which were registered as NTD2.20 billion in August last year, are registered as NTD3.67 billion in August 2003.
In the first eight months of 2003, while exports of the company are recorded as 1.79 million tons, which constitute 63% of the target, crude steel
production has reached up to 6.85 million tons, representing 71.2% of the target. Moreover, it is also stated that August exports of the company are 22% lower than August 2002 with 190'018 tons, while crude steel
production with an increase of 7.6% has reached up to 894'282 tons. Sales volume of the company has reached up to 884'460 tons from 830'181 tons of August 2002.