Anyang Steel report net profit of CNY 51 million for H1

Sunday, 08 Aug 2010
It is reported that Henan Province-based Chinese steelmaker Anyang Iron and Steel Group reported that its net profit in the H1 2010 reached CNY 50.3709 million compared to a net loss of CNY 382 million in the same period last year.

In the period in question, Anyang Iron and Steel sales revenue amounted to CNY 13.492 billion up by 28.74%YoY while its earnings per share came to CNY 0.02 compared to losses per share of CNY 0.16 in the corresponding period of last year.

Anyang Iron and Steel stated in its report that its return to profit in the first half of the current year was due to increasing sales volumes and higher steel prices, adding that it also expects to record a net profit for the January to September period this year.