Metal Products News
- Jinan Steel sees ?7 net up 50%
Date: 19-Dec-2007 Sources: (Shenzhen Daily)
JINAN Iron and Steel Co. Ltd. said yesterday it expected its 2007 net profit to rise by 50 percent or more from a year earlier, boosted by cost reductions and higher steel prices.
The company said in a statement it had posted a net profit of 871.56 million yuan (US$118.1 million) last year, or 0.77 yuan per share.
Listed Chinese companies are required to make preliminary statements if they expect to report profit swings of more than 50 percent.
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