Japanese steelmaker Kobe Steel Ltd has issued its financial results for the first half ended September 30 of the fiscal year 2018-19.
For the given period, Kobe Steel has reported a net profit of JPY 33.3 billion ($294 million), compared to a net profit of JPY 39.3 billion in the first half of the previous financial year. The company's consolidated net sales revenues in the given period amounted to JPY 958.2 billion ($8.47 billion), up 5.6 percent year on year.
Kobe Steel produced 3.4 million mt of crude steel in the first half of the fiscal year, down 12.8 percent year on year. Kobe's steel product sales volume in the given period decreased by ten percent to 2.7 million mt compared to the first half of the financial year 2017-18.
Meanwhile, for the financial year 2018-19 the company forecasts net sales of about JPY 2.03 trillion ($17.9 billion) and net income of about JPY 35 billion ($309 million). The previous guidance for the full financial year was for net sales of about JPY 2.03 trillion and net income of about JPY 45 billion.