Baosteel’s preliminary net profit for 2011 down by 43.35 percent

Chinese steel giantBaosteelGroup has issued its preliminary financial data for 2011. Accordingly, for 2011 the net profit ofBaosteelhas been estimated at RMB 7.302 billion ($1.159 billion), down 43.35 percent compared to 2010.

Meanwhile, the earnings per share (EPS) ofBaosteelfor the given year are estimated at RMB 0.42 ($0.067). For the first three quarters of 2011,Baosteel's net profit aggregated at RMB 6.321 billion ($1.003 billion), according to its Q3 financial report.