According to the newly published quarterly report of Liaoning Province-based Chinese steelmaker Benxi Iron and Steel, in the third quarter of the current year the steel producer recorded a net profit of RMB 172 million ($25.79 million), up 132.77 percent, while its sales revenues amounted to RMB 11.972 billion ($1.79 billion), up 28.66 percent - both on year-on-year basis.
In the first three quarters of the current year, Benxi Iron and Steel's net profit came to RMB 860 million ($128.93 million), up 160.01 percent, while its sales revenues amounted to RMB 33.801 billion ($5.67 billion), up 31.18 percent - both compared to the corresponding period of the previous year. The company ascribed its positive results to increased product prices and higher sales volumes.