Baosteel's profit halves in Q3: outlook gloomy

摘要

The net profit at Baosteel Limited plunged by 48.7% in Q3 to Yuan 1.35bn ($213m) as slower demand and high raw material costs ate into margins. Sales revenue rose by 9.7% on the year to Yuan 56.2bn, but operating income dropped by 55.4% to Yuan 1.32bn.