SSAB Posts Decline In Q2 Profit

SSAB AB

reported a drop in its profit for the second quarter. SSAB's quarterly net profit fell to 480 million Swedish kronor ($68.81 million), versus SEK859 million, in the year-ago period. However, analysts were expecting a net profit of SEK573.5 million. Its sales dropped to SEK10.8 billion, versus SEK11.8 billion, while operating profit fell to SEK755 million, from SEK1.3 billion.