Nanchang-based Chinese steel producer Fangda Special Steel has announced that in the first quarter of the current year its operating revenue reached RMB 3.145 billion ($499.21 million), rising by 7.78 percent compared to the same period of 2011. Meanwhile, its net profit in the given period was RMB 94 million ($14.92 million), declining by 4.9 percent year on year.
According to the data issued by the company, in the first quarter Fangda Special Steel's total industrial production value was RMB 3.19 billion ($506.35 million), an increase of 39.44 percent year on year. At the same time, its outputs of pig iron, crude steel and finished steel in the given quarter were 674,800 mt, 753,800 mt and 732,900 mt, respectively rising by 23.16 percent, 24.95 percent and 22.75 percent.