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Chongqing Iron & Steel losses widen 23pct

Monday, September 1, 2014
Source:ferro-alloys.com

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Keywords:Chongqing Iron & Steel

[Fellow]Chongqing Iron & Steel, a medium-sized Chinese steelmaker, net loss in the H1 widened 23% YoY to CNY 1.38 billion as slower economic growth in China dented demand and steel prices.

Chongqing Iron & Steel, a medium-sized Chinese steelmaker, net loss in the H1 widened 23% YoY to CNY 1.38 billion as slower economic growth in China dented demand and steel prices.

Excluding extraordinary losses from asset disposals, the net loss narrowed 15.3% to CNY 945.24 million.

The company said that slower economic growth hit revenue, which dropped sharply by 35.18% to CNY 6.03 billion. It also suffered investment losses of CNY 2.07 billion, a whopping 176% jump on the same period last year.

[Editor:sunzhichao]

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