Valin LY Steel expects net loss of RMB 269 million for H1

Tuesday, 08 July 2014 12:07:13 (GMT+3)   |   Shanghai
       

Hunan Province-based Chinese steelmaker Valin LY Steel Co. has announced that it expects to achieve a net loss of RMB 269 million ($43.88 million) for the first half of the current year, compared to a net profit of RMB 36.92 million ($6.02 million) in the same period last year.

Valin LY Steel stated that the decline in finished steel prices in the first half this year amid sluggish steel market conditions caused the company to incur a net loss for the period. Meanwhile, through various methods to improve efficiency and lower costs, Valin LY Steel's operating performance improved in the second quarter compared to the first quarter. In the first quarter this year, Valin LY Steel recorded a net loss of RMB 192 million, indicating that it expects to register a smaller net loss of RMB 77 million ($12.56 million) for the second quarter.


Similar articles

Shanxi Coking Coal’s net profit down 39.66 percent in Jan-Sept

26 Oct | Steel News

Shanxi Coking Coal’s net profit down by 29.43 percent in H1

08 Aug | Steel News

Wujin Stainless Steel’s net profit estimated to be RMB 185 million in Jan-Jun

12 Jul | Steel News

Chinese steel enterprises’ losses amount to RMB 4.84 billion in Q1

27 Apr | Steel News

Shanxi Coking Coal posts net profit of RMB 2.47 billion for Q1

26 Apr | Steel News

Shagang’s net profit down 73.88 percent in Q1

24 Apr | Steel News

Nanjing Steel’s operating revenue down 7.69 percent in 2022

29 Mar | Steel News

Shanxi Coking Coal Energy Group posts net profit of RMB 5.694 billion for 2022

28 Mar | Steel News

Chinese steel enterprises’ profits down 151.1 percent in Jan-Feb

27 Mar | Steel News

China Shenhua Energy posts a net profit of RMB 69.63 billion in 2022

27 Mar | Steel News