The Chinese steelmaker Shagang released its estimated adjusted financial result for 2012 on January 11st, 2013.
In 2012, the company realized a net profit of RMB13~RMB40 million, slumping by 85%~95% from a net profit of RMB278 million in a year ago.
In fact, Shagang estimated on October 26t that it would realize a net loss of RMB10~RMB30 million in 2012
Shagang stated that the surged net profits in the fourth quarter of last year and the recovered special steel market in the given period of time boosted the company’s net profits for the whole 2012.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62554&division=A6
