HOSCO: Good Financial Performance in the Last Year
Mining News Pro - Financial and planning manager of Hormozgan Steel Company said: “Hormozgan Steel have had a great financial performance last year thanks to the managers and shareholders.”

According to Mining News Pro - Abdolhamid Bahreini mentioned that the retained earnings of Hormozgan Steel in the last year was 118.4 million USD.

“HOSCO’s profit per share has grown by 339 percent compared with the same period, two years ago. The operational revenues of “Hormoz” during the last year has grown by 36 percent, from 211.3 million USD to 286.6 million USD”, he said.

Bahreini explained: “Gross profit has increased by 104 percent, from 344.8 million USD to 746.5 million USD and as a result, the operating profit has grown by 315 percent from 347.1 million USD to 1.4 billion USD. Also, the net income had a 339 percent increase from 29.1 million USD to 1.2 billion USD.”

“According to the reports, the total asset of HOSCO is about 3.7 billion USD and in return total debt has increased by 60 percent to 1.3 billion dollars” he added.
Bahreini said that the current ration of the company is in a good situation and Hormozgan Steel commits to its obligations.

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