Posco Posts Surge In Q3 Profit

Posco

reported a strong rise in its net profit in the third quarter. Posco's quarterly consolidated net profit surged to 723 billion Korean won ($655 million), versus KRW229 billion, in the year-ago period. Its operating profit dropped 18% to KRW1.062 trillion from KRW1.288 trillion, while sales fell 7.2% to KRW15.739 trillion from KRW16.953 trillion. Posco shares closed at $80.13 yesterday.