Growth Enterprise Market-listed iSteelAsia.com senior officials yesterday presented an optimistic picture of a possible first full-year profit after the steel distributor annoucned its second consecutive profitable quarter.
According to the latest quarterly results, the company made a net profit of HK$3.51 million for the three months to September 30, against a loss of a similar amount a year ago.
Turnover rose 53.86 per cent year-on-year to HK$165.01 million.
In the previous quarter, the company posted a net profit of HK$3.26 million - the first profit it reported since its listing on the second board in April, 2000.
For the six months to September 30, the company, which had once put great emphasis on its online steel trading business, saw nearly 98 per cent of its turnover coming from traditional sales.
Only about 2 per cent of the total turnover, or HK$6.94 million, was commission income from online trading.
