SSAB reports a profit decrease for Q3

SSAB reports a profit decrease for Q3

Swedish specialty steel producer SSAB has reported a net profit of SEK (Swedish Krona) 50 million ($6.51 million) in its third quater results, which corresponds to a 9.1% decrease, when compared with the same period last year. However, the company reported sales of SEK 4.33 billion ($567 million), which indicates an increase of 18%, when compared with the figure recorded in the same period of 2002. The company has acquired net income of SEK 593 million ($77.7 million) on sales of SEK 14.8 billion ($1.9 billion) in the first nine months of 2003. These figures indicate that net income rose up by 55.2% and the sales by 2.6%, when compared with the figures recorded in the first nine months of 2002. Furthermore, shipments of the company have increased by %43 again in the same period. The officials of the company state that these increases are related with the high sales of customer-oriented products.