It’s reported that the Korean steel giant Posco announced that its net profits slumped by 45% year on year to KRW561 billion in the fourth quarter of 2012.
In the fourth quarter of 2012, Posco realized sales revenues of KRW15.06 trillion, falling by 19% year on year and the company’s operating profits were at KRW3.65 trillion, decreasing by 33.2% year on year.
Besides, the company’s net profits for 2012 slumped by 35.8% from a year ago to KRW2.38 trillion, caused by lower steel prices and higher raw material costs.
In 2012, Posco’s sales revenues amounted to KRW 63.6 trillion, decreasing by 32% year on year.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62855&division=A6
