Dongkuk Steel Mill posts Q1 results

Dongkuk Steel Mill posts Q1 results

South Korean steel producer Dongkuk Steel Mill (DSM) posted a net profit of Won 126 billion ($126 million) in the first quarter of 2005, up 34% against the net profit recorded in the same quarter of 2004. In the first quarter of 2005, operating income of the company increased by 29% to Won 127 billion against the previous year. Moreover, sales increased by 24% to Won 844 billion from the first quarter of the previous year. The improved results are reported to be achieved through strong Won and higher steel prices.