Important news for Fakhuz shareholders

According to Tejarat News, based on the announcement published on Kedal website, information and financial statements for the 6-month period ending September 22, 2014 (unaudited) of Khuzestan Steel Company with the symbol فخوز Released.

Khuzestan Steel Company has achieved a profit of 134 Tomans per share in the 6-month period ending September 21 of this year. This amount has increased by 85% compared to the same period last year.

“Fakhouz” has achieved a profit of more than 6,700 billion Tomans with a registered capital of 5,000 billion Tomans. This amount of profit is related to the performance of the company for 6 months ending March 20, 2014.

Along with the report, Fakhouz also provided a clarification that according to the 1400 budget law of the whole country, the energy rate of the steel industry is calculated based on the average rate of purchase of electricity from power plants with energy conversion power. Considering the average cost of 4556 Rials per kilowatt of electricity in the first six months of this year (seven times more than last year) and also tripling the cost per cubic meter of gas, energy costs in the first six months of the year has increased sharply. In this report, it is stated that the energy cost of this year is predicted to be more than 3.6 thousand billion Tomans.

Fakhouz faced an increase in supply pressure in today’s trading and finally closed with a drop of 4.5 percent.

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