China's Xinjiang Bayi Steel sees H1 net profit up over 200 pct on higher prices 
(XFN-ASIA)
Updated:
2008-07-03 14:18
Counter:
Xinjiang Bayi Iron & Steel Co Ltd (SHA 600581) said first half net profit is expected to have risen by over 200 pct year-on-year mainly due to surging steel prices and marketing initiatives.
The steelmaker had a net profit of 134.53 mln yuan in the first half of 2007, with earnings per share of 0.23 yuan.
Xinjiang Bayi Iron & Steel is indirectly controlled by Baosteel Group, parent of Baoshan Iron and Steel Co Ltd (SHA 600019).
The company is scheduled to release its first half results on Aug 22.
(1 usd = 6.85 yuan)
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