South Korean steel giant POSCO’s operating profit surged by 1213% year-on-year in the second quarter, exceeding 2 trillion won for the first time

Yonhap News Agency reported on July 9th that South Korean steel giant POSCO released a performance report on the 9th, initially verifying that the company's second-quarter consolidated operating profit (including subsidiaries) surged by 1212.7% year-on-year to 2.2014 trillion won (approximately RMB 12.4 billion) , Set a record high in a single season and broke the 2 trillion won mark for the first time. Sales increased by 32.85% year-on-year to 18.2289 trillion won.

Looking at the POSCO head office alone, the sales in the second quarter were 9.2774 trillion won, and the operating profit was 1.6081 trillion won, the highest performance since the second quarter of 2010 (1.7081 trillion won).

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The analysis believes that POSCO can achieve the above-mentioned good results mainly due to the improvement of its core business-the steel industry. With the increase in vaccination rates and the recovery of the global economy, the demand for steel in major industries such as automobiles, shipbuilding, and construction has surged, and the prices of steel products have also been rising. Experts predict that POSCO's performance in the second half of the year will continue to improve.

Post time: Jul-13-2021
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