For the current business year to March 2024, Japan's biggest steelmaker expects its net profit to fall 46.7% to 370 billion yen, falling short of a mean forecast of 416.6 billion yen by 11 analysts surveyed by Refinitiv. ($1 = 135.0500 yen) (Reporting by Yuka Obayashi; Editing by Kim Coghill)
TOKYO, May 10 (Reuters) - Nippon Steel said on Wednesday
that its annual net profit rose 8.9% to 694 billion yen ($5.1
billion) for the year ended in March thanks to higher margins
after price increases, but predicted a smaller profit for the
year to next March.
The results beat the company's own profit forecast of 670
billion yen.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.