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Angang Steel Co Ltd Issues H1 2013 Earnings Guidance


Friday, 12 Jul 2013 09:34am EDT 

Angang Steel Co Ltd announced that it estimates that its net profit attributable to shareholders of the Company to be RMB702 million and basic earnings per share(EPS) to be approximately RMB0.097 for the first half of 2013, compared to the net loss of RMB1,976 million and EPS of RMB0.273 for the first half of 2012. Since the beginning of this year, the Company has accelerated the pace of management reform and implemented potent measures, so as to explore its potential and improve its efficiency. Under the circumstance of more intensified competition in the steel market and declining market price of products, the Company has strived to reduce the impact of the decline in the products’ market price on its profit through increasing the scale of sales activities, reinforcing the scale of customer services activities by hosting product presentations and matchmaking conferences, and adjusting the structure of its product mix. At the same time, through optimizing procurement and tightening internal management, the Company achieved conversion from losses to profitability. 

Company Quote

6.36
0.22 +3.58%
19 Dec 2014