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Fangda Special Steel sees 39.45% down in H1 profit

Jul. 27, 2012 (China Knowledge) - Fangda Special Steel Technology Co Ltd<600507>, a leading manufacturer of iron and steel products in China, saw its net profit attributable to shareholder dropped 39.45% YoY to RMB 211.88 million in the first half of 2012.

Basic earnings per share for the period were RMB 0.16, less than RMB 0.27 it realized in the same period of 2011.

According to a statement filed with Shanghai Stock Exchange, the company realized RMB 6.7 billion in operation revenue including RMB 6.31 billion from special steel business, down 1.57% YoY.

The operation revenue in east China and southwest China increased 1.18% and 65.69% YoY to RMB 4.99 billion and RMB 395.62 million, respectively, while operation revenue from export rose 21.36% YoY to RMB 102.95 million.

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