Daye Special Steel 09 Net Profit Up 65 Percent

Daye Special Steel (000708) recorded a 65.67 percent increase from 2008 in net profit attributable to shareholders to 333 million yuan in 2009, reports China Securities Journal, citing its Annual Report.

Revenue fell 25.87 percent from 2008 to 5.56 billion yuan in 2009 while total profits surged 112.63 percent to 380.43 million yuan in 2009.

Basic earnings per share was 0.741 yuan. Return on equity climbed 4.84 percentage points from 2008 to 16.28 percent in 2009.

Daye Special Steel declared cash dividends of 1.5 yuan for every ten shares held.

Daye Special Steel is targeting to produce 1.25 million tons of steel and achieve revenue of six billion yuan in 2010.