Baosteel flags improved 2004 profit

HIGHER shipping and raw material costs ate deeply into the December quarter profit of one of China’s biggest steelmakers, Baosteel.

Baosteel flags improved 2004 profit Baosteel flags improved 2004 profit Baosteel flags improved 2004 profit Baosteel flags improved 2004 profit Baosteel flags improved 2004 profit

Profit for the latest three months was up a sickly 1.2% to 1.65 billion yuan (US$199 million).

Despite the sluggish performance the company said it was confident of a strong rebound in 2004.

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