POSCO third-quarter operating profit rises 9 percent, meets forecasts
South Korean steelmaker POSCO on Thursday posted a 9 percent rise in operating profit for the July to September quarter, as a sustained recovery in steel prices lifted earnings at its overseas operations.
POSCO, the world`s fifth-biggest steelmaker, said consolidated operating profit was 1.13 trillion won ($1.01 billion) in the third quarter, up from 1.03 trillion won in the same period a year earlier and in line with an average estimate of 1.12 trillion won from analysts polled by Reuters.
Third-quarter revenue rose 18 percent from a year ago to 15 trillion won.
($1 = 1,123.5100 won)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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