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Novo's Q4 loss widens to US$11.3 million

Group cuts selling prices to below costs to clear out inventories, keep market share
Wednesday, July 1, 2015 - 05:50


CHINESE steel company Novo Group's net loss for the fourth quarter ended April 2015 widened to US$11.32 million from US$6.52 million for the year-ago period as it slashed selling prices of its products to below costs. This was in a bid to clear out inventories and maintain

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