According to its first quarterly report for 2008, Hubei Province-based Wuhan Iron & Steel Co., Ltd (WISCO) registered a net profit of RMB 2.045 billion ($292 million) during the period in question, with a rise of 42.69 percent year on year. Meanwhile, the company achieved a net profit of RMB 6.518 billion ($ 931 million) in 2007, with an increase of 67.35 percent year on year.
As stated in its 2007 annual report which was issued together with the 2008 first quarterly report, during the whole of 2007 WISCO produced 11.6504 million mt of pig iron, 11.8979 million mt of crude steel and 10.5630 million mt of finished steel, with respective increases of 5.89 percent, 8.16 percent and 5.76 percent year on year. During the year in question, the company registered a record high turnover of RMB 54.16 billion ($7.74 billion).
WISCO says that in 2008 it expects to produce 14 million mt of pig iron, 14.50 million mt of crude steel and 13.22 million mt of finished steel.