13
Mar
08:35
CITIC Pacific posts lower profit despite rising revenue
China-listed CITIC Pacific Special Steel has announced higher revenue on higher sales for 2023 in its annual report, but profit still decreased amid the market downturn, according to the exchange filing.
Over the year, the company sold 18.89 million tonnes of steel, up 24.4% year-on-year to a record high, Kallanish notes. Within this, exports soared 50.1% to 2.38mt.
As a result, the company’s annual turnover rose 15.94% on-year to CNY 114.02 billion ($15.85…
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Anonymous
Very good overview of the weekly steel market.
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