G Steel expects return to profit in fourth quarter

摘要

G Steel Plc, the debt-ridden hot-rolled steel manufacturer, hopes to return to the black in the fourth quarter on higher capacity use and foreign-exchange gains, especially once its US$170-million debt restructuring plan wins approval from bondholders. The listed company's revised bond exchange programme failed to be endorsed at yesterday's bondholders' meeting, as attendance was insufficient for a quorum.