Arcelor posts record $797.5M profit in quarter, sees stainless output on rise

Oct 27, 2005 | 09:44 AM | Bianca Markram

Arcelor SA logged its best third-quarter results on record, despite a difficult market in which the company cut 2.5 million tonnes of steel output in the first nine months of the year, Guy Dollé, the Luxembourg-based company's chief executive officer, said in a conference call.

Arcelor posted net income of 657 million euros ($797.5 million) for the three months ended Sept. 30, up 4.5 percent from 629 million euros in the same period last year and far ahead of analysts' expectations of about 300 million euros ($364.2 million). During the first nine months, net income totaled 2.6 billion euros ($3.2 billion), a 73-percent increase from 1.5 billion....

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