[Asia Economy Reporter Hwang Yoon-joo] POSCO announced on the 12th that its provisional operating profit on a separate basis for the first quarter of this year was 1.0729 trillion KRW, an increase of 134.2% compared to the same period last year. This marks more than double the profit compared to a year ago, and it is the first time in 10 quarters since the third quarter of 2018 that the separate quarterly operating profit exceeded 1 trillion KRW.
During the same period, sales increased by 11.9% to 7.8004 trillion KRW. On a consolidated basis, sales were recorded at 15.9969 trillion KRW, and operating profit at 1.552 trillion KRW. Starting this year, POSCO decided to provide quarterly performance forecasts before holding investor briefings to facilitate investment convenience.
The company explained, "Recording operating profit of more than 1.5 trillion KRW on a quarterly consolidated basis is the first time in 10 quarters since the third quarter of 2018, and it is the second largest amount in the past 10 years after 1.7 trillion KRW in the second quarter of 2011."
Meanwhile, POSCO plans to hold its first quarter investor briefing on the 26th via conference call.
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