MMK sees 19% jump in H1 Net Profit 2008
Revenues were up 41% to $5.63 billion, with EBITDA up 25% to $1.5 billion. That came on the back of an 8.3% increase in steel production to 7.015 million tones, and an 8.1% increase in rolled product production to 6.434 million tones.
Strong domestic demand underpinned the results with MMK saying average sales prices for its products jumped as much as 45% in Q2 compared with Q1. The company also noted that its efforts on equipment modernization, cost control, energy conservation, and increasing labour productivity are also adding to the bottom line.