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Bengang Steel Plates forecasts huge deficit for 2009
(Xinhua)
Updated: 2010-01-28 14:13
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Bengang Steel Plates Co, China's leading steel plates producer, on Thursday forecast its net profits in 2009 would stand a loss of 900 to 950 percent from the previous year.
In a statement to the Shenzhen Stock Exchange, Bengang Steel Plates said its net profits in 2009 would be minus 1.32 to 1.4 billion yuan (minus $19.4 to 20.5 million). Earnings per share would be minus 0.42 to 0.45 yuan, compared with an earning of 0.05 yuan per share in 2008.
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Bengang Steel Plates opened at 6.18 yuan per share on Thursday, equivalent to the previous closing despite the deficit forecast.
