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Salzgitter expects 2011 pretax profits to rise threefold
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According to report of Reuters, Germany’s second largest steelmaker, Salzgitter said it has seen its pretax profit to rise threefold to €150 million, lower than estimation earlier.
Analysts expected that the company’s 2011 pretax profit will be at €199 million from €49 million in 2010.
The company’s Q1 pretax profit jumped to €56.3 million from a loss of €17.1 million in the same period of one year earlier. Also, its sales increased to €2.037 billion. Both figures are higher than analysts’ estimation.
German steelmakers have reported profits from strong demand in exports, especially on products for cars and high-end engineering machinery.
News Date
5/12/2011 3:36:40 PM
reported by
Judy Lin
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