Xiwang Special Steel (01266) expected that the group's consolidated profit attributable to the shareholders of the company for the six months ended 30 June 2018 may increase by more than 80% year-over-year.
The increase was mainly due to the decrease in steel supply and increase in steel demand, increase in the group's profit margin owing to the persistent rise in steel price but moderate increase in raw material price, and decrease in income tax expense.
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