Kobe Steel raises profit forecast for fiscal year

Friday, 03 March 2006 14:01:06 (GMT+3)   |  
       

Japanese steelmaker Kobe Steel disclosed that it has raised its recurring profit forecast for the fiscal year ending March 31, 2006 Yen 5 billion ($42.9 million) to Yen 170 billion ($1.46 billion). The company indicated that the upward revision is attributed to the robust sales of construction machinery and electronic materials, adding that steel production is expected to decrease.

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