Net profit of Hebei Steel Group’s listed companies rises tenfold in H1

Friday, 27 August 2010 16:48:55 (GMT+2)

Chinese steelmaker Hebei Iron and Steel Group has stated that in the first half of the current year the aggregate net profit of its listed companies reached RMB 720 million ($105.89 million), up 974.89 percent year on year, due to higher steel product prices against the backdrop of the rebound in the economy.

In the same period, the overall sales revenues of Hebei Iron and Steel Group's listed companies reached RMB 58.685 billion ($8.6 billion), up 43.43 percent year on year, while the sales revenues of the main business (iron and steel) of these companies amounted to RMB 48.627 billion ($7.15 billion), up 51.2 percent year on year.

In H1, the listed companies of Hebei Iron and Steel Group produced 12.7453 million mt of pig iron, up 29.38 percent, 12.9264 million mt of crude steel, up 24.12 percent, 12.3196 million mt of finished steel, up 30.25 percent, and 86,500 mt of vanadium slag, up 52.88 percent - all on year-on-year basis.

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