Trade Resources Economy Liuzhou Steel Posted an Estimated Net Profit of RMB 121 Million for 2012,Down 66.59%

Liuzhou Steel Posted an Estimated Net Profit of RMB 121 Million for 2012,Down 66.59%

On January 29, Guangxi Zhuang Autonomous Region-based Chinese steelmaker Liuzhou Iron and Steel Co., Ltd issued its financial results for 2012.

Accordingly, Liuzhou Steel has posted an estimated net profit of RMB 121 million ($19 million) for 2012, down 66.59 percent compared to RMB 362 million in 2011.

Meanwhile, the company achieved operating revenues of RMB 37.276 billion ($5.9 billion) in 2012, down 12.07 percent year on year.

The company’s profits for 2012 were negatively impacted by lower steel prices and higher raw material costs, amid weak steel market conditions.

Source: http://www.steelorbis.com/steel-news/latest-news/liuzhou-steel-sees-6659-percent-fall-in-net-profit-in-2012-738304.htm
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Liuzhou Steel Sees 66.59 Percent Fall in Net Profit in 2012
Topics: Construction