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Mining News Pro - Hormozgan Steel has announced a massive change in the forecast of earnings per share this year, with the release of information on the Kodal system.
According to Mining News Pro -According to Hormozgan`s published information on the Kodal system, the net profit of Hormozgan Steel for the fiscal year ended March 29th was increased from 4,113 billion and 274 million rials to 7,139 billion and 192 million Rials. .
The reason for this change in the forecast of the revenue of each share of Hormozgan Steel and its growth of 73.5% compared to the previous forecast was the increase in domestic sales and export sales of the main product due to increased demand and the rise in world prices in the first half of the year, which increased Operational income.
Also, in the second half of the year, due to the announcement of the Regulation of the Steel Market Regulatory Authority of the Ministry of Industry, Mining and Commerce, regarding the establishment of base prices and the ceiling of sales competition, the domestic sales increased, which are the main reasons for this adjustment.
According to the report, the increase in the exchange rate, according to the government`s decision to sell steel companies in the secondary market, has a significant effect on profits, especially in the second half of this year, so the positive reasons for this adjustment will be.
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https://www.miningnews.ir/En/News/280421
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