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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


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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