Inner Mongolia Baotou Steel Union Co. Ltd. on Aug. 28 said its net profit attributable to shareholders for the first six months ended June 30 fell 26.5% year over year to 1.04 billion Chinese yuan from 1.42 billion yuan of a year earlier.
EPS fell by 26.7% year over year to 2.28 fen from 3.11 fen. The company's operating revenue for the first half was down 4.3% year over year to 30.31 billion yuan, compared with 31.68 billion yuan of a year earlier.
Earnings after deducting nonrecurring items dropped 27.1% year over year to 1.03 billion yuan from 1.41 billion yuan of the previous year.
The company said iron ore production over the period fell 1.4% year over year to 7.2 million tonnes due to the maintenance work at a blast furnace. During the six months, it produced 7.5 million tonnes of steel, an increase of 0.97% year over year.
As of Aug. 27, US$1 was equivalent to 7.16 Chinese yuan.
