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Nanjing Iron & Steel Co Ltd Announces FY 2012 Net Profit Outlook Below Analysts' Estimate

Tuesday, 29 Jan 2013 07:00pm EST 

Nanjing Iron & Steel Co Ltd announced that it expects its net profit for fiscal year (FY) 2012 to be RMB -580 million, compared to the net profit of FY 2011 (RMB 325,350,800). The Company cited the low market demands for steel and high price of raw materials as the main reason for the forecast. According to I/B/E/S Estimates, analysts expect the Company's net profit for fiscal year 2012 to be RMB -3.89 million. 

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