China Baosteel's net profit jumps 248% in Q1 on robust demand

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China Baosteel's net profit jumps 248% in Q1 on robust demand

Reuters2021-04-26

April 26 (Reuters) - China's biggest listed steel producer Baoshan Iron & Steel said on Monday its first quarter net profit rose 247.8% from a year earlier to 5.4 billion yuan ($832.40 million) on strong demand for the ferrous products.

Known as Baosteel, the steel giant's earned 12.7 billion yuan in 2020, rising 0.9% from 2019, the company said in filings to the Shanghai Stock Exchange.

($1 = 6.4873 Chinese yuan renminbi)

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vbjvvbb
·2021-04-26
Wow
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Jayne seah
·2021-04-26
Ok
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