Shagang registers net loss of over RMB 9.8 million in Jan-Sept

Friday, 26 October 2012 10:31:20 (GMT+3)   |  
       

On October 25, Jiangsu Province-based Chinese steelmaker Shagang Group issued its financial results for the first three quarters of this year, indicating a net loss of RMB 9.834 million ($1.56 million) compared to a net profit of RMB 249.71 million ($39.45 million) in the same period last year.
 
Meanwhile, for the given period Shagang Group reported an operating revenue of RMB 9.025 billion ($1.43 billion), down RMB 2.827 billion ($449 million) or 23.86 percent year on year.

In the third quarter, the company achieved an operating revenue of RMB 2.648 billion ($423 million), down 28.35 percent year on year. Meanwhile, in the quarter in question Shagang saw a net loss of RMB 44 million ($6.98 million) compared to a net profit of RMB 79 million in the third quarter of 2011.


Similar articles

Shagang’s net profit down 73.88 percent in Q1

24 Apr | Steel News

Jiangsu Shagang expects 50-64 percent drop in net profit for 2019

24 Oct | Steel News

Jiangsu Shagang sees 56 percent decline in net profit in H1

16 Aug | Steel News

Shagang Group posts gross profit of RMB 5.05 billion for 2016

24 Jan | Steel News

Shagang Group sees 11 percent fall in operating revenue in Jan-Sept

21 Oct | Steel News

Shagang expects net loss in range of RMB 57-68 million for H1

07 Jul | Steel News

Shagang Co. Ltd expects 20-50 percent rise in net profit for 2014

29 Jan | Steel News

Shagang Group’s net profit doubles in January-October

11 Dec | Steel News

Shagang sees sharp rise in net profit in January-September

30 Oct | Steel News

Shagang achieves net profit of RMB 34.96 million in H1

27 Aug | Steel News