Kobe's profit is up 72.1% in H1

Kobe’s profit is up 72.1% in H1

Market sources report that, Japanese steel producer Kobe Steel has recorded a net profit of Yen 8.9 billion ($81.6 million) for the first half of current fiscal, ending on September 30, with an increase by 72.1% compared to corresponding period of 2002. The company stated that, surging demand for steel from China as well as overall Asia improved private steel sector in Japan, hence the sales of steel products increased. According to first half report; the group sales increased by 1.7% to Yen 587 billion ($5.4 billion) , revenues by 5% to Yen 265 billion ($2.4 billion), foreign sales by 9% to Yen 130 billion ($1.2 billion), crude steel output by 7.8% to 3.6 million tons, when compared to figures of the same period of the previous fiscal. The officials of the company expect these figures to increase more in the second half of the current fiscal.