It is reported that Liuzhou Iron and Steel Group Corporation released on February 4th the 2009 performance report, saying that its net profit in 2009 increased by 1641.25%YoY highly beyond the expectation.

Liugang performance report shows that the revenue in 2009 was CNY 26.5 billion, gliding by 9.07%YoY and the revenue in 2008 was CNY 29.2 billion but the operating profit and the total profit sharply rose by 1424.04% and 1312.62%. As of this, the company gave the detailed reasons, but the finance data show that the profitability increases to large extent.

Liugang earned the net profit of CNY 270 million in 2009 up by more than 16 times YoY. The company achieved the net profit of CNY 270 million in 2009, upwards by 1641.25%YoY per-share profit for CNY 0.1054. Its net profit in 2008 was CNY 15.5187 million per-share profit for CNY 0.0061.

(Source from MetalBiz)