August 30, 2008

Liuzhou Iron & Steel 2007 operating revenue up by 26.91% YoY

It is reported that Liuzhou Iron & Steel Company Limited reaped operating revenues of CNY 20.706 billion in 2007 up by 26.91% YoY as compared to 2006.

Liuzhou Iron & Steel Company Limited total profits amounted to CNY 1.078 billion in the year up by 29.68% YoY. Net profits attributed to shareholders of the listed company surged 31.82% to CNY 999 million and earnings per share stood at CNY 0.7104. Its outputs of crude steel and steel products touched 5.8035 million tonnes and 3.8645 million tonnes, respectively. Based on its capital stock of 1.423774 billion at 2007 end, the company plans to distribute cash bonus of CNY 2 for every ten shares to all shareholders and transfer capital reserve into capital stock, adding eight shares to every ten shares.

Liuzhou Iron & Steel Company Limited the company expects to produce 3.6 million tonnes of coke, 10 million tonnes of sinter, 3.2 million tonnes of pellet, 7.6 million tonnes of iron and 8.16 million tonnes of steel in 2008. It targets to gain operating revenues of CNY 28.2 billion and net profits of CNY 1.077 billion.