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POSCO third-quarter operating profit rises 9%, meets forecasts

The world's fifth-biggest steelmaker said that consolidated operating profit was $1.01 billion in the third quarter

Reuters  |  Seoul 

South Korean steelmaker POSCO on Thursday posted a 9 per cent 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 per cent from a year ago to 15 trillion won. ($1 = ...

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First Published: Thu, October 26 2017. 13:30 IST