Shaoguan Iron and Steel Songshan reports a YOY increase of about 384% in net profits for H1 2017
2017-07-14 17:29:10 [Print]
On July 13, Shaoguan Iron and Steel Songshan Co., Ltd. announced that its net profits going to listed shareholders for the first half of 2017 are expected to rise by about 384.06% YOY to about RMB650 million, in comparison to the losses of RMB228.8236 million in the same period of 2016.
Since early 2017, steel prices have been holding at a high level; meanwhile, the company has been striving to reduce production costs, enhance work efficacy and optimize product structure. Both are the main reasons for the dramatically rising profits in the reporting period, and the company expected to see net profits of about RMB650 million for the first half of this year.
Since early 2017, steel prices have been holding at a high level; meanwhile, the company has been striving to reduce production costs, enhance work efficacy and optimize product structure. Both are the main reasons for the dramatically rising profits in the reporting period, and the company expected to see net profits of about RMB650 million for the first half of this year.
