South Korean POSCO to announce Q1 earnings this week
The giant South Korean steel producer POSCO is expected to announce its first quarter earnings at the end of this week.
POSCO supplies both the domestic and the overseas markets. Its biggest export market is
China, receiving about 25% of the company's total exports. With the help of strong demand from
China as well as the higher product prices, POSCO's net profit for the first quarter is expected to boost almost by 150% compared to the same period of previous year.
In line with such good performance, POSCO's operating margin is expected to grow from last year's 10.4% to 23.4%.
The company's net profit recorded in the last quarter of 2002 was Won 364.9 billion on sales of Won 3.19 trillion.