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Thyssenkrupp second-quarter operating profit up on steel recovery

Reuters  |  FRANKFURT 

FRANKFURT (Reuters) - German technology and industrial conglomerate Thyssenkrupp on Tuesday posted a 17-percent increase in its second-quarter operating profit, helped by a recovery in steel prices that has already benefited larger rival ArcelorMittal.The group, which makes everything from submarines to chemical plants, said second-quarter adjusted earnings before interest and tax (EBIT) came in at 500 million euros ($597 million), in line with the average analyst forecast in a Reuters poll.Profit at the group's Steel Europe division, to be merged with the European steel unit of Indian peer ...

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First Published: Tue, May 15 2018. 10:49 IST