Brief: China Oriental Group HY net profit RMB528.5 million

China Oriental

26/08/2016 11:31

Aug 26 (Reuters) - China Oriental Group Co Ltd  0581.HK : 
 
 * Interim results announcement for the six months ended 30 June 2016  0581.HK  
 * Says board did not recommend the payment of an interim dividend for the six months ended 30 June 2016 
 * HY profit attributable to owners of the company RMB528.5 million versus RMB 73.7MLN 
 * In H2 of 2016, expected that there will be no material change in the market and business environment of steel industry in the mainland China 
 * "Expected that the steel price will remain in current level with fluctuations" 
 * "steel industry will still face a challenging environment and the pressure on industry consolidation and reduction of overcapacity will increase" 
 * Intends to set up jvs with oriental sheet piling , a unit of arcelormittal, to capture business opportunities of sheet piling products 
 * In the second half of 2016, the group will continue to focus on the development of high-end steel products 
 
* Source text for Eikon  ID:  
 
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