CSN's Q1 profits deteriorate by 89%
According to report, Brazilian steelmaker Companhia Siderurgica Nacional’s (CSN) reported its net profit declined by 89% in the first quarter from the fourth quarter in 2011 to BRL93 million.
However, sales of steel products rose by 9% quarter-on-quarter to 1.3 million tons. But revenue after taxes declined by 7% from Q4 2011 to BRL3.8 billion.
Exports jumped significantly by 84% to 269,000 tons. The company also reported it has completed the acquisition of Stahlwerk Thuringen GmbH (SWT) in January and it will start to sell 117,000 tons of steel during the quarter.
News Date 14 May 2012 15:15:45 reported by Judy Lin