Masteel announces net loss for 2012

Publish time: 29th March, 2013      Source: ChinaCCM
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Reportedly, the Chinese steelmaker Masteel announced its financial result for 2012 on March26th.

In 2012, the company posted operating revenues of RMB74.4 billion, falling by 14.33% year on year. At the same time, the company reported a net loss of RMB3.863 billion, slumping from a net profit of RMB69.578 million in 2011.

Masteel pointed out that the drop in operating revenues was caused by dip in steel prices but sales volumes kept stable.