Chinese steel producer General Steel Holdings Inc. released its fourth quarter and full year results on Tuesday. The company posted a bigger loss in the fourth quarter comparing the same period last year.

However, the company managed to post profit in the full year 2009. The company said that the bigger loss in the fourth quarter was mainly attributable to a charge related to the changing value of debt liabilities. The revenue of the company increased on strong demand in the company's main markets.

In the fourth quarter ended January 2010, General Steel reported a net loss of $11.1 million comparing with the net loss $9.7 million reported by the company in the same period last year. Total revenue in the fourth quarter was reported of $451.9 million, increasing by 73% while in the same quarter last year total revenue was posted of $261.1 million. Market analysts were estimating total revenue of $454.39 million for the fourth quarter.

For the full year 2009, the company reported a net loss of $25.2 million or 60 cents per share, while in the previous corresponding period of 2008 the company posted a loss of $11.3 million or 32 cents per share. Total revenue in FY 2009 was reported $1.67 billion, increasing from the FY 2008 figures of total revenue of $1.35 billion.