On January 31, Zhejiang Province-based Chinese steelmaker Kingland & Pipeline Technologies Co., Ltd has issued its preliminary financial results for 2012, indicating a net profit of RMB 104.4175 million ($16.84 million), up by 68.36 percent compared to the net profit of RMB 62.02 million recorded in 2011. Additionally, its earnings per share for 2012 were RMB 0.35 ($0.056).
Kingland & Pipeline Technologies also indicated that in 2012 its gross profit margin rose to 8.38 percent, up 1.69 percentage points compared with 6.69 percent in 2011, amid improvements in production and sales volumes.