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Kobe Steel Reports Larger Plunge in Profit Plunges in 9Months

Steel News - Published on Fri, 21 Feb 2020

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Japan's Kobe Steel Ltd has reported that its net profit attributable to the company for the nine months ended December 31, 2019 plunged 84 percent to JPY 7.22 billion from JPY 45.03 billion yen last year. Operating income declined 62.6 percent to JPY 14.30 billion from JPY 38.24 billion in the prior year. Net sales were JPY 1.39 trillion, down 4.1 percent from JPY 1.45 trillion last year.

For fiscal 2019, ending March 31, 2020, the company now expects attributable net loss of 15 billion yen or 41.36 yen per share, operating loss of 5 billion yen and net sales of 1.89 trillion yen, down 4.2 percent from last year.

The company had previously expected attributable net loss of JPY 5 billion, operating income of JPY 15 billion and net sales of JPY 1.97 trillion.

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Posted By : Rabi Wangkhem on Fri, 21 Feb 2020
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