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PrintOn October 28, Hubei Province-based Chinese steelmaker Wuhan Iron and Steel Co. (WISCO) issued its financial results for the third quarter of the current, posting a net profit of RMB 193 million ($30.6 million), down 53.31 percent year on year.
In the given quarter, WICSO achieved an operating revenue of RMB 21.91 billion ($3.48 billion), decreasing by 15.62 percent on year-on-year basis.
In the first three quarters, the company achieved an operating revenue of RMB 67.22 billion ($10.67 billion) and a net profit of RMB 328 million ($52.1 million), down 12.46 percent and 80 percent compared to the same period of last year.
Meanwhile, the company foresees an over 50 percent decline in net profit for the whole year of 2012 compared to last year.
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