On August 19, Anhui Province, China-based steelmaker Maanshan Iron and Steel Group (Maanshan Steel) released its financial results for the first half of 2010.
Accordingly, in the first six months of the current year Maanshan Steel achieved a total operating revenue of RMB 31.676 billion ($4.67 billion), compared with an operating revenue of RMB 23.424 billion ($3.45 billion) in the same period of last year. The earnings per share (EPS) of the company amounted to RMB 0.1353 ($0.0196) for the January-June period this year, compared with a loss per share of RMB 0.1033 ($0.0152) in the first six months of 2009. Maanshan Steel's net profit in H1 was RMB 1.042 billion ($154 million), comparing very favorably to the net loss of RMB 795 million ($117 million) recorded for the first six months of 2009.
The report also cites Maanshan Steel's production data for the period in question. In H1, the steelmaker's outputs of pig iron, crude steel and finished steel were respectively 6.56 million mt, 6.95 million mt and 6.62 million mt, up 7.19 percent, 9.28 percent and 10.7 percent year on year.