South Korea's second-largest steelmaker Hyundai Steel Co announced Tuesday that it reported 4.11 trillion won in consolidated sales for the second quarter, up 26.2 percent year on year. The company reported an operating profit of 14 billion won, down 94% from the previous year, but up from 29.7 billion won in operating losses in the first quarter. Net loss rose to 12.9 billion won from 51.1 billion won in the same period last year, but the net loss was 88.8% lower than in the first quarter.
Hyundai Steel said: “Sales generated from shaft furnaces have slowed due to stagnation in demand from the automotive and shipbuilding industries as a result of Covid-19. A diversified portfolio, including steel bars and beams used for construction, has helped Hyundai Steel increase operating profit. ”
Hyundai Steel announces second quarter results
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Azovpromstal® 29 July 2020 г. 11:51 |
