Kingland Pipeline&Technologies Announces That in 2012 Its Operating Revenue up 7.75%

On March 25, Zhejiang Province-based steel pipe producer Kingland Pipeline & Technologies Co., Ltd announced that in 2012 its operating revenue amounted to RMB 3.407 billion ($547.7 million), up by 7.75 percent year on year. Meanwhile, its net profit totaled RMB 101 million ($16.24 million), up by 63.4 percent on year-on-year basis, with basic earnings per share (EPS) of RMB 0.34 ($0.05).?In 2012, Kingland Pipeline & Technologies' overall steel pipe sales amounted to 664,100 mt, up by 15.43 percent year on year. In the year in question, the company' galvanized steel pipe and plastic-steel compound pipe sales totaled 386,200 mt and 57,900 mt, up 11.24 percent and 20.38 percent respectively, while sales of spiral welded pipes produced by its subsidiary Kingland Pipe Industry Co. totaled 121,800 mt, down 15.89 percent, all year on year. Furthermore, in 2012 the sales volume of HEW219 longitudinal welded pipe produced by Kingland Pipe Industry totaled 47,000 mt, increasing by 43,600 mt compared to 2011, while the sales volume of longitudinal submerged arc welding (LSAW) pipe produced by joint venture Shasteel & Kingland Pipeline Co. totaled 36,400 mt, compared to zero output in the previous year.