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Delong's 3Q earnings up fourfold to $200 mil

Samantha Chiew
Samantha Chiew11/3/2017 06:26 PM GMT+08  • 2 min read
Delong's 3Q earnings up fourfold to $200 mil
SINGAPORE (Nov 3): Delong Holdings announced that 3Q17 earnings increased more than fourfold to RMB 973.9 million ($200.3 million) from RMB 229.3 million a year ago.
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SINGAPORE (Nov 3): Delong Holdings announced that 3Q17 earnings increased more than fourfold to RMB 973.9 million ($200.3 million) from RMB 229.3 million a year ago.

Sales for the third quarter ended September were 44.7% up at RMB 3.67 billion as compared to RMB 2.53 billion in 3Q16, attributed to a significant increase in average selling prices of hot rolled coil (HRC) coupled with an increase in HRC sales volume driven by infrastructure and construction activities in China.

However, the increase in sales volume was partially offset by the cessation of Aoyu Steel’s operations in August 2017.

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