Hsin Kuang Steel, Yeun Chyang saw high revenue gains in March

Taipei, April 8, 2003 (CENS)--Hsin Kuang Steel Co., Ltd. And Yeun Chyang Industrial Co., Ltd., two local steel companies listed on the Taiwan Stock Exchange, witnessed their revenues for last month grow by 19.8% and 33.7%, respectively, from March last year.

Hsin Kuang provides cutting services for and distributes many kinds of steel products, with a few cutting & distribution centers around Taiwan. The company rang up revenue of NT$445 million, rising by 18.2% from March last year and the highest monthly figure ever on record.

Hsin Kuang raked in cumulative revenue of NT$1.262 billion in the first quarter of this year, jumping by 40% from the January-March period last year.

Yeun Chyang specializes in producing stainless steel pipes/tubes. The company chalked up revenue of NT$356 million in March, climbing by 33.7% from a year earlier and by 34.1% from February this year. The company's revenue for last month was the highest monthly level in three years.

Yeun Chyang brought in three-month revenue of NT$946 million, jumping by 46.3% from the same period of last year. In light of good prospects of the domestic market, the company will expand its cutting capacity of stainless steel, expecting this year's revenue to increase by NT$1.0 billion from last year to NT$5.0 billion.