Guangzhou Steel’s sales revenues rise by 21.55 percent in H1

Wednesday, 28 July 2010 12:06:15 (GMT+2)

According to the interim financial report issued by Guangdong Province-based Chinese steel producer Guangzhou Iron and Steel Inc. (Guangzhou Steel ), in the first half of 2010 the company achieved a total sales revenue of RMB 3.534 billion ($522 million), up 21.55 percent compared to the same period of last year. During the same period, Guangzhou Steel's net profit amounted to RMB 46.4221 million ($6.86 million), compared to a net loss of RMB 28.25 million ($4.17 million) in the first half of 2009.

In the first six months of this year, Guangzhou Steel produced 523,000 mt of pig iron, 738,800 mt of crude steel and 794,300 mt of finished steel.

According to Guangzhou Steel, due to high raw material prices and the Chinese government's program aimed at energy savings and emissions reductions, the company may record a net loss in the third quarter of the current year.

 previous article  /  next article