Jiangsu Changbao Steel Tube’s operating revenue down 30 percent in Q1

Friday, 08 May 2015 15:14:32 (GMT+3)   |   Shanghai
       

Jiangsu Province-based Chinese steel pipe producer Jiangsu Changbao Steel Tube Co. issued its financial results for the first quarter of the current year, announcing an operating revenue of RMB 690 million ($111.3 million), down 29.96 percent, and a net profit of RMB 46.143 million ($7.44 million), decreasing by 13.21 percent, both on year-on-year basis.

Meanwhile, the company said it expects to see a year-on-year reduction in net profit in the first half of the current year to the range of RMB 88.49-121.67 million due to slow economic development and reduced demand from downstream industries.


Similar articles

US OCTG exports up 26.8 percent in January

27 Mar | Steel News

India’s VSTL setting up greenfield steel pipe making unit in Odisha

27 Mar | Steel News

Japanese crude steel output down 3.8 percent in February from January

27 Mar | Steel News

India’s Welspun secures $62 million steel pipe supply contract in Saudi Arabia

26 Mar | Steel News

Some EU flat steel import quotas about to be exhausted near end of period

26 Mar | Steel News

Canada initiates review on line pipe from S. Korea

25 Mar | Steel News

India’s Welspun and Saudi Arabia’s Aramco terminate steel pipe supply contract

25 Mar | Steel News

US and Canadian rig counts both decline week-on-week

22 Mar | Steel News

US structural pipe and tube exports down 41.7 percent in January

22 Mar | Steel News

Tata Steel Nederland plans to close precision tube operations

22 Mar | Steel News