POSCO reports October 2003 results

POSCO reports October 2003 results

Korean steel making giant POSCO announced that its crude steel production amounted to 2.5 million tons in October with a 4.4% increase compared to 2.4 million tons recorded in September. This result is at the same time 3.6% higher than the same period last year. POSCO has reported its sales as Won 1.3 trillion in October, up by 9% compared to Won 1.2 trillion reported in September while increase by 21% against October 2002. Futhermore, company's operating profit increased by 32.8% to Won 312 billion over October 2002. These positive results are in relation with price increases in stainless steel products and rising demand of domestic customers. The figures are based on unaudited financial statements.