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Baoshan Iron & Steel's H1 Profit Falls 6%, Revenue Rises 6%

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Baoshan Iron & Steel's (SHA:600019) net profit attributable to shareholders in the first half fell 6.3% to 4.57 billion yuan from 4.88 billion yuan a year earlier, according to a Shanghai bourse filing on the weekend.

The Chinese steel manufacturer's shares rose 2% during Monday's morning trade.

Earnings per share dropped 8.7% year on year to 0.21 yuan from 0.23 yuan.

Operating revenue rose 6.2% to 160.7 billion yuan from 151.4 billion yuan in the preceding year.

The company plans to distribute a cash dividend of 0.13 yuan per share to shareholders.

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