ThyssenKrupp third quarter earnings increase 28%
Germany's largest steelmaker, ThyssenKrupp (TK), increased its fiscal third quarter profit by 28% as a result of improved profits in its steel,
automotive and services units. In accordance with the improved third quarter earnings, TK has also raised its full-year forecast by 50%.
TK's net income in the three month period ending 30 June 2004 increased to €274 million from €214 million in the same quarter of 2003. Following the better-than-expected earnings, TK increased its annual profit forecast to €1.5 billion from its original estimate of €1.0 billion.
TK has increased
production and raised prices three times this year as the global economic recovery has led to a surge in global demand.