Liuzhou Iron & Steel reports an increase of over 400% in H1 2017 net profits
2017-08-10 17:51:33 [Print]
According to the half year operation report released by Liuzhou Iron & Steel recently, during the first half of 2017 the company realized an operation revenue of over RMB19.09 billion, up by 55.45% YOY; and its net profits amounted to RMB395.61 million, up by 400.81% YOY.
The company attributed the substantial increase in its net profits during the reporting period to the fact that, as Chinese government pressed on with implementation of the de-capacity policy and enhanced crackdown upon low-quality steel products, the Chinese steel market recovered gradually; taking this opportunity, the company worked hard to produce products which better met customers’ demand, and also to enhance its internal administration which led to decreased products costs.
The company attributed the substantial increase in its net profits during the reporting period to the fact that, as Chinese government pressed on with implementation of the de-capacity policy and enhanced crackdown upon low-quality steel products, the Chinese steel market recovered gradually; taking this opportunity, the company worked hard to produce products which better met customers’ demand, and also to enhance its internal administration which led to decreased products costs.
