POSCO's operating profit up by 28% in February

POSCO’s operating profit up by 28% in February

South Korean steelmaker POSCO announced that its operating profit rose by 28% to Won 304 billion ($258 million) in February due to high steel prices and booming overseas demand. However, this figure is lower than the Won 441 billion ($375 million) recorded in January. Company's sales amounted to Won 1.4 trillion ($1.2 billion) in February, up by 30% compared to Won 1.1 trillion ($935 million) recorded in February 2003. POSCO expects 2004 operating profit to rise by 4% to Won 3.2 trillion ($2.7 billion) while sales are forecasted to increase by 17.5% to Won 16.9 trillion ($14 billion).