Metal Products News
- Wuhan Steel profit surges 700 percent
Date: 30-Apr-2007 Sources: (Shenzhen Daily)
WUHAN Iron & Steel Co., China's third-biggest steelmaker by market value, said Friday first-quarter profit surged 700 percent after the price of the metal increased.
Net income rose to 1.4 billion yuan (US$181 million), or 0.18 yuan a share, from 247 million yuan, or 0.026 yuan a share, a year earlier, based on domestic accounting standards, the Wuhan, Hubei Province-based company said. Sales rose 45 percent to 12 billion yuan.
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