Angang Steel’s FY17 Results In Line With Preliminary; FVE Raised to HKD 4.60 on Solid Performance
Angang Steel’s full-year 2017 earnings were largely in line with preliminary results announced previously, with net profit up by around 247% to CNY 5.61 billion versus CNY 1.62 billion in 2016. This implies that for fourth-quarter 2017, Angang Steel’s net profit was CNY 2.32 billion, which was a big increase from CNY 0.64 billion during the year-ago period. The firm announced a dividend per share of CNY 0.232, in line with the 30% payout ratio in 2016. With more clarity on its strong performance...Angang Steel Company Limited is a China-based company principally engaged in the production and distribution of steel. The Company's main products include hot-rolled steel sheet products, cold-rolled steel sheet products, medium and heavy sheets and other steel products. The Company distributes its products within domestic market and to overseas markets.
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