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POSCO says Q1 operating profit more than doubled
April 18, 2017 / 4:37 AM / in 6 months

POSCO says Q1 operating profit more than doubled

SEOUL, April 18 (Reuters) - South Korean steelmaker POSCO said on Tuesday that its first-quarter operating profit more than doubled from the same period a year earlier, beating its own earlier estimate, as solid demand in China boosted steel prices.

The world’s fourth-largest steelmaker said consolidated operating profit for January-March was 1.37 trillion won ($1.20 billion), compared with a preliminary estimate it issued in late March of 1.2 trillion won, and 659.8 billion won reported a year ago.

$1 = 1,140.2000 won Reporting by Hyunjoo Jin; Editing by Kenneth Maxwell

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