ThyssenKrupp Q3 pretax up at 1.219 bln eur on high steel prices, ups FY guidance |
|
|
|
Published
:
Fri, 10 Aug 2007 07:12
|
FRANKFURT (Thomson Financial) - ThyssenKrupp AG said its third quarter pretax profit improved as high steel prices boosted earnings of its steel and stainless steel divisions.Third quarter pretax profit for the quarter to June 30 improved 33.9 pct to 1.219 bln eur compared with 806 mln eur in the year-earlier period.Analysts polled by Thomson Financial News expected pretax profit of 1.03 bln.Net income came in at 759 mln eur, after last year's 468 mln eur, easily beating a consensus of 624 mln eur for the quarter, while sales increased to 13.4 bln eur from 12.13 bln.The steel-maker raised its full-year outlook and now expects pretax profit of 3.6 bln eur compared to a previous forecast of 3.5 bln eur. It also revised up its 2007 sales forecast, now saying it expects it to grow to 'over 50 bln eur' from the previous guidance of 'around 50 bln eur'.ThyssenKrupp confirmed its mid-term guidance of sales reaching 60 bln eur and pretax profit of 4 bln eur, both by 2010.It also reiterated its long-term outlook of sales at 65 bln eur and pretax profit of 4.5-5 bln eur. It did not give a specific time frame.frederik.richter@thomson.comfr1/mog/ejbCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
ThyssenKrupp plans to reach full capacity at US steel plant by-2011 - US exec 