POSCO made a public notice on Oct. 23 that its operating profit for the third quarter increased by 36 percent year-on-year to 1.5 trillion won. Its sales increased by 9.1 percent year-on-year to 16.4 trillion won.
"Because of favorable performance in domestic steel, construction and energy sectors, sales and operating profit increased compared to the same period of last year. Its consolidated operational profit surpassed 1 trillion won for the five consecutive quarters," said POSCO.
PT.Krakatau POSCO in Indonesia has achieved its biggest quarterly operating profit since its operation. POSCO Energy and other major domestic affiliates also performed well in the third quarter.
Operating profit on a separate basis increased by 51.7 percent year-on-year to 1.09 trillion won. Its separate sales increased by 9% compared to the same period of last year to 7.9 trillion won.
Its operating profit ratio was 13.8 percent, up 3.9 percentage points from a year earlier. It is currently recording double-digit operating profit ratio for the fourth consecutive quarter.
POSCO predicted that demand for steel will continue to rise due to the strengthening of emerging markets such as India and Southeast Asia. It is planning to continue its efforts to generate profits by securing financial soundness, reducing costs, and expanding sales of high value-added products.