Hunan Valin Steel expects reduced net loss for first quarter
Tuesday, 15 April 2014 11:23:31 (GMT+3)
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Shanghai
Hunan Province-based Chinese steelmaker Hunan Valin Iron & Steel Co. (Hunan Valin Steel) has announced in its preliminary financial results for the first quarter this year that it expects to register a net loss of RMB 110-150 million ($18-24.5 million) for the period in question, with a loss per share of RMB 0.0365-0.0497. In the corresponding period last year, Valin Steel had recorded a net loss of RMB 368.59 million. Valin Steel stated that the anticipated reduction in its net loss is mainly due to the increase in its sales volumes of finished steel in the first quarter.
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