Baosteel estimates an increase in pre-tax profit

Baosteel estimates an increase in pre-tax profit

According to reports from the industry, Shanghai based steelmaker Baosteel Group Co. has announced that it estimates pre-tax profit to reach Yuan 13 billion (approx. $1.57 billion) in 2003. This figure will indicate an increase by 85.7% when compared with Yuan 7 billion (approx. $845.8 million) recorded in 2002. Moreover, sales will increase to Yuan 100 billion (approx. $12.1 billion) this year.