ThyssenKrupp AG Friday said third-quarter net profit rose 62%

August 10th, 2007 7:22 PM
In continuing good news for our newest area business this came out today:
FRANKFURT -- ThyssenKrupp AG Friday said third-quarter net profit rose 62% due to strong demand for its steel products and slightly raised its sales and earnings forecasts for fiscal 2007, citing strong trading in the first three quarters and a robust global economy.
Net profit in the three months to June 30 was €759 million ($1.04 billion) compared with €468 million in the last quarter, exceeding analyst expectations of €621 million. It was the third time in this financial year that the German industrial conglomerate, which makes steel, automotive parts and elevators and offers technology services, raised its full-year targets. "We expect the overall positive performance to continue in the further course of the year," said Chief Executive Ekkehard Schulz in a written statement.
In particularly good news the division which will lead the construction t the new Mobile County mill did very well:
On the operating level, ThyssenKrupp's stainless steel division was again the unit that recorded the biggest improvement
Posted by Marion Laney on August 10th, 2007 7:22 PM