Angang Steel Posts Surge In Q3 Profit

Angang Steel Co

reported a strong rise in its net profit for the third quarter. Angang Steel's quarterly profit surged to 346 million yuan ($56.6 million), versus a year-ago profit of 63 million yuan. EPS jumped to 0.048 in the quarter. Its revenue slipped 1.2% to 19 billion yuan from 19.24 billion yuan.