Finnish steelmaker Rautaruukki (Ruukki) announced a decrease of 37.8 percent in its net profit for the fourth quarter of 2008, ended on December 31 compared to the year-ago period.
For the period in question, the company recorded a net profit of €74 million against a net profit of €119 million posted in the corresponding quarter of the previous year. Meanwhile, its net sales declined by 11,8 percent to €847 million in the fourth quarter, compared with €960 million for the same quarter last year.
During the year ended December 31, 2008, the company reported a net profit of €548 million, as compared to €621 million for the year 2007.
The net sales of the year 2008 rose by two percent to €3.851 billion from €3.876 billion in the last year.