Taiyuan Steel sees 79.11 percent fall in 2008 net profit

Thursday, 30 April 2009 11:57:17 (GMT+2)

On April 30 Chinese steel producer Taiyuan Steel released its 2008 annual report, announcing sales revenues of RMB 83.06 billion ($12.18 billion) for the whole of 2008, up 2.22 percent year on year. Meanwhile, the company's net profit for the year in question totaled RMB 1.11 billion ($163 million), down 79.11 percent compared with the previous year.

In 2008, Taiyuan Steel produced 7.7523 million mt of pig iron, up 4.65 percent year on year, and 9.2017 million mt of crude steel, down 0.98 percent, with its combined sales of finished and semi-finished steel totaling 9.3023 million mt, up 0.97 percent.

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