Date
23 September 2017

Baotou Steel Rare Earth net profit up in 2013, paper says

Inner Mongolia Baotou Steel Rare Earth (Group) Hi-Tech Co., Ltd. (600111.CN) made 1.574 billion yuan (US$256.44 million) in net profit in 2013, up 4.22 percent year on year even as revenue dipped 8.33 percent to 8.472 billion yuan, the China Securities Journal reported Friday. Prices of rare earth products slumped during the year but an increase in sales made up for the fall in prices. The company is aiming for 6.4 billion yuan in sales this year and to control costs at within 4.6 billion yuan, the report said.

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EL/AC/SK

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