South Korean steelmaker Posco posted 13.9 trillion won in sales and 652 billion won in operating profits in the third quarter of this year.
Thanks to its group-wide cost cutting and increasing sales of high-value added, its operating profits rose 4.7 percent, compared to 4.5 percent in the previous quarter.
However, due to foreign currency translation loss from weakening won and settlement money for suits with foreign steel makers, the company also posted 658 billion won in net loss.
Posco applied a total of 1.2 trillion won in non-operating loss including 380 billion won in exchang loss from overseas branches, 149 billion won from equity method income loss due to currency loss in emerging nations, 388 billon won from value loss in its assets including mine and investment and settlement money for a Japanese steel maker.
Posco posted 6.29 trillon won in sales, 638 billion won in operating profits and 347 billion won in net profit during the term.
The company also said it aims to have 60.6 trillion won in sales this year.
