Daye Special Steel sees 32.9 percent rise in net profit in 2014

Hubei Province-based Chinese steelmaker Daye Special Steel Co. has announced its results for 2014, stating that it recorded an operating revenue of RMB 7.353 billion ($1.17 billion) in the given year, down 1.15 percent year on year, while it registered a net profit of RMB 268 million ($42.8 million), up 32.92 percent year on year. Daye Special Steel said the year-on-year decline in revenue was mainly due to the decreases in sales prices of its products.