Hebei Steel Group indicates massive rise in net profit in H1

Thursday, 15 July 2010 13:34:24 (GMT+2)

For the first half of the current year Hebei Province-based Chinese steel producer Hebei Steel Group has estimated its net profit at RMB 550-800 million ($81-118 million) and its earnings per share (EPS) at RMB 0.08-0.116 ($0.012-0.017), both increasing by 475-737 percent year on year.

According to Hebei Steel Group, the surge indicated in the company's financial results has mainly been due to its timely strategies in production line adjustment, enterprise management and cost reduction.

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