[Asia Economy Reporter Choi Seoyoon] POSCO Holdings announced on the 19th that its preliminary Q3 operating profit was 900 billion KRW, down 71% from the previous year.
Sales increased by 2.9% from a year ago to 21.2 trillion KRW. Compared to the previous quarter, sales and operating profit decreased by 7.9% and 57.1%, respectively.
The company explained that operating profit was negatively impacted by about 440 billion KRW due to operating losses from production stoppages at the Pohang Steelworks caused by the flooding of Naengcheon and increased one-time costs.
Meanwhile, POSCO Holdings will hold its Q3 earnings conference call on the 24th.
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