South Korean steelmaker Pohang Iron and Steel Co. (POSCO) has announced its consolidated financial results for the second quarter this year.
In the given period, the company reported an operating profit of KRW 1.32 trillion ($1.03 billion), up by 88 percent compared to the previous quarter.
In the given quarter, POSCO’s revenue decreased by 12.5 percent year on year to KRW 20.12 trillion ($15.76 billion), while its net profit amounted to KRW 776 billion ($607.91 million), decreasing by 7.6 percent compared to the same quarter of the previous year.
In the second quarter this year, POSCO produced 8.85 million mt of crude steel, rising by 4.1 percent compared to the previous quarter and up by 4.7 percent year on year, with the recovery of Pohang steel plant from flooding. In the given quarter, the company’s finished steel sales increased by 2.3 percent compared to the previous quarter and increased by 1.4 percent year on year to 8.35 million mt.