Finland-based stainless steel producer Outokumpu has released its interim report for the second quarter of 2008.
During the period in question Outokumpu's operating profit increased to €174 million from €100 million, while its sales dropped down eight percent to €1.55 billion, both compared with the first quarter of 2008. The main reasons given for the lower level of deliveries were the weakening of demand towards the end of the quarter and maintenance breaks at the Tornio Works subsidiary in April.
During the second quarter of 2008, Outokumpu's net profit decreased to €56 million from €63 million in the first quarter of 2008, while its profit before taxes rose from €80 million to €166 million compared with the previous quarter.