Wuyang Iron and Steel posts net profit of RMB 123 million in 2010

Chinese steelmaker Wuyang Iron and Steel has posted a net profit of RMB 123 million ($18.7 million) for the whole year of 2010, with a total pre-tax profit of RMB 379 million ($57.5 million). The company also realized a sales income of RMB 11.5 billion ($1.7 billion) in the year in question, while it recorded a total crude steel output of 2.51 million mt and produced 2.21 million mt of steel plates.
 
In 2011, Wuyang Iron and Steel aims to achieve crude steel production of 2.8 million mt and a steel plate output of 2.4 million mt. For the same year, Wuyang Iron and Steel is targeting a net profit of RMB 120 million ($18.2 million) and sales income of RMB 12 billion ($1.8 billion).