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Steelmaker Rautaruukki swings to Q3 operating loss
HELSINKI |
HELSINKI Oct 23 (Reuters) - Finnish steelmaker Rautaruukki reported a bigger-than-expected third-quarter operating loss, hit by economic uncertainty and lower prices.
The group's July-September comparable operating loss was 18 million euros ($23.5 million), it said on Tuesday, missing an average forecast of 6.4 million euros in a Reuters poll.
A year ago it made a profit of 1 million euros.
Rautaruukki warned last month it would make an operating loss this year and said it would cut around 250 jobs to reduce costs.
($1 = 0.7651 euros) (Reporting by Helsinki Newsroom; Editing by Mark Potter)
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