HELSINKI Feb 13 Stainless steelmaker Outokumpu
reported a smaller-than-expected underlying loss for
the fourth quarter and forecast an improvement in the current
quarter after cost cuts helped to limit the impact of weaker
stainless steel prices.
Outokumpu trimmed its quarterly underlying operating loss to
90 million euros ($122 million) from 169 million euros in the
same quarter a year earlier. Analysts on average expected a loss
of 122 million euros, according to a Reuters poll.
The company said it would likely report a loss in the first
quarter, but a smaller one than in the previous quarter due to
higher market demand and some improvement in base prices.
($1 = 0.7359 euros)
(Reporting by Ritsuko Ando; Editing by Mark Potter)