JFE Holdings doubled its pre-tax profit
According to recent market news, Japanese steel producer JFE (
Japan Future Enterprise) Holdings announced its pre-tax profit as Yen 45 billion ($413 million) for the first nine months of 2003. This amount indicates an increase of 260%, when compared to same period of 2002. The company officials state that strong demand in Asian market paved the way for this much of increase in the profits.
JFE expects its net profit to increase by 6% to Yen 95 billion ($871.5 million) by the end of current fiscal year, when compared with the previous fiscal. This rate is also 5.5% higher than the previous year-end target of Yen 90 billion ($825.7 million) of the company.