FIRST-QUARTER RESULTS: Revenue grew 13 percent annually to NT$93.39 billion, but the firm said rising material costs meant operating income fell to NT$6.04 billion

Taipei Times
Date: May 02, 2018
By: Kuo Chia-erh  /  Staff reporter

China Steel Corp (CSC, 中鋼) on Monday reported that pretax net profit last quarter grew 6 percent year-on-year from NT$5.39 billion to NT$5.74 billion (US$182.06 million to US$193.89 million), due mainly to robust client demand and growing non-operating income.

Revenue rose 13 percent annually from NT$82.98 billion to NT$93.39 billion, the nation’s largest steelmaker said in a statement.

However, operating income slid 6 percent from NT$6.43 billion a year earlier to NT$6.04 billion, as recent price adjustments could not fully reflect increasing material costs.

The Kaohsiung-headquartered company raised prices NT$327, or 1.5 percent, for domestic shipments in the first quarter to reflect an uptrend in international steel prices.
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