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Posco 4Q Operating Profit Rose 55% on Shipments of High-Margin Steel Products

   By Kwanwoo Jun 

Posco's fourth-quarter operating profit rose 55% from a year earlier, driven by growing shipments of high-margin steel products for vehicles.

Operating profit for the quarter ended Dec. 31 was 863.40 billion Korean won ($778.9 million), compared with operating profit of KRW557.60 billion in the same quarter a year earlier, the South Korean steelmaker said Thursday. That beat a FactSet consensus forecast for operating profit of KRW838.11 billion.

Revenue during the quarter fell 4.9% to KRW15.264 trillion. Quarterly net-profit figures weren't available.

For 2020, revenue fell 10% to KRW57.793 trillion, net profit declined 9.8% to KRW1.788 trillion and operating profit was 38% lower at KRW2.403 trillion.

Posco said pandemic-suppressed steel demand and lower average selling prices weighed on its 2020 earnings despite demand recovery in the auto industry in the second half.


Write to Kwanwoo Jun at


(END) Dow Jones Newswires

January 28, 2021 04:12 ET (09:12 GMT)

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