NISCO posts reduced net profit for 2011

On March 27, Jiangsu-based Chinese steelmaker Nanjing Iron and Steel United Co. (NISCO) issued its financial results for 2011, announcing a 64.59 percent year-on-year decrease in net profit to RMB 325 million ($51.75 million) for the year in question.
 
Meanwhile, in 2011 NISCO's operating revenue totaled RMB 38.565 billion ($6.14 billion), up 28.32 percent year on year.