Nanjing Steel posts 13.76 percent rise in net profit in 2009

Monday, 22 March 2010 11:42:17 (GMT+3)   |  
       

According to its newly-issued financial results, in 2009 Chinese steel producer Nanjing Iron and Steel Co. saw its total operating revenue decrease by 17.81 percent to RMB 23.304 billion ($3.41 billion), while its net profit increased to RMB 138 million ($20.21 million), up 13.76 percent year on year. Meanwhile, the company's earnings per share in 2009 came to RMB 0.08.

In 2009, Nanjing Steel produced 5,501,300 mt of crude steel, 6,031,800 mt of pig iron and 4,738,600 mt of finished steel, up 10.79 percent, 17.33 percent and 11.47 percent year on year respectively. Among the finished steels, the output of medium plate and medium and thick plate combined totaled 3,135,700 mt, registering an increase of 3.28 percent compared with the previous year.

As for 2010, the steelmaker states that it is targeting 5.6 million mt of crude steel, 6.2 million mt of pig iron and 4.79 million mt of finished steel output, as well as RMB 2.34 billion ($342.73 million) in operating revenue and a 100 percent sales/output ratio. The company is also targeting RMB 673 million ($98.57 million) in fixed asset investments during the year, including fix asset overhauls.


Similar articles

Ansteel’s net profit up 10.69 percent in 2020

01 Apr | Steel News

Valin Steel’s net profit up 46% in 2020, steel output up 10%

01 Apr | Steel News

Shandong Steel’s net profit up 24.8 percent in 2020

31 Mar | Steel News

Nanjing Steel’s net profit increases by 9.2 percent in 2020

30 Mar | Steel News

Masteel’s net profit up 75.74% in 2020, crude steel output up 5.7%

30 Mar | Steel News

Baosteel’s net profit down 12.86% in Jan-Sept, crude steel output down 3.85%

30 Oct | Steel News

Baoshan Iron and Steel posts lower profit in H1, output to stay high in H2

28 Aug | Steel News

Shandong Iron and Steel’s net profit down, output up 27.37% in H1

28 Aug | Steel News

Ansteel turns to black in H1

30 Aug | Steel News

Chongqing Steel sees net loss in H1 despite higher production

30 Aug | Steel News