Tangshan Steel Q1 net profits down 90 percent

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Post Date: 05 May 2009    Viewed: 908

Tangshan Steel posted an operating income of 10.02 billion yuan in the first quarter of 2009, down 27.29 percent year-on-year; a net profit of 83.66 million yuan, down 88.54 percent; and earnings per share of 0.02 yuan, down 90 percent. Owing to fact that steel prices fell ahead of fuel and raw materials’, the mill expected a net profit of 100 million yuan in the first half, down 50 to 100 percent; and earnings per share of 0.03 yuan.