THE INVESTOR

메뉴열기
March 28, 2024

Hyundai Steel’s Q1 net profit more than doubles

PUBLISHED : April 27, 2017 - 17:43

UPDATED : April 27, 2017 - 17:43

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • sms

[THE INVESTOR] Hyundai Steel said on April 27 that its first-quarter net profit more than doubled on robust sales of high-end products and cost reduction efforts.

Net profit for the three months ended March 31 jumped to 341.11 billion won (US$302 million) from 158.58 billion won a year earlier, the company said in a statement.

“To offset lower demand from carmakers and shipbuilders, the company increased sales of value-added products such as high-intensity reinforced bars,” the statement said.

Operating profit climbed 30 percent to 349.68 billion won in the January-March period from 269.19 billion won a year earlier.

Sales rose 22 percent to 4.57 trillion won from 3.74 trillion won, it said.

By Alex Lee and newswires (alexlee@heraldcorp.com)

  • 페이스북
  • sms
최상단으로
COPYRIGHT HERALD CORPORATION. ALL RIGHTS RESERVED.