Hyundai Steel’s 1st-qtr. net profit hit by outage
Apr 30, 2013 | 11:45 AM
| Weilyn Loo
SINGAPORE Hyundai Steel Co. Ltd. saw its net profit plunge in the first quarter amid weak steel prices and lost production resulting from the shutdown of its hot-rolled coil facilities for maintenance, the company said.
South Koreas second-largest steel producer posted net income of 20 billion won ($18 million) for the three months ended March 31, down 90.8 percent sequentially from 217 billion won and 87.3 percent lower than the 158 billion won recorded in the year-ago quarter. Revenue for the quarter came in at 2.78 trillion....
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