Hangzhou Steel posts strong results for January-June

Zhejiang Province, China-based steelmaker Hangzhou Iron and Steel Inc. (Hangzhou Steel) has announced that in the first half year of the current year it achieved a net profit of RMB 166 million ($25 million), up 596.33 percent year on year, while its operating revenue for the period came to RMB 9.709 billion ($1.4 billion), increasing by 31.19 percent compared to the same period of last year. During the period in question, the company's earnings per share (EPS) stood at RMB 0.20 ($0.03), registering a growth of 566.67 percent as compared with the January-June period of 2009.