Shougang boosts profit

Attributable profits at metals trader and miner Shougang Concord International Enterprises rose 7.6 per cent in 1995, boosted by an improved steel product trading division.

Turnover rose by $1 billion to $7.3 billion, while operating profit leapt 34 per cent to $341.8 million. Earnings per share dropped from $0.12.8 to $0.12.3, reflecting an extra 74.25 million issued shares.