Steel producer Ispat Iscor on Thursday reported a 15% increase in operating profit for the September quarter to R2,235-billion, up from R1,945-billion in the June quarter.
September headline earnings were R1,575-billion, up R882-million from the June quarter.
The sharp increase in Ispat Iscor’s earnings was attributed to record global steel prices and significantly higher domestic sales, the group said.
Revenue for the September quarter was R6,387-billion, up from R5,675-billion in the June quarter.
Headline earnings per share for the September quarter was 353 cents, up 78% from 198 cents in the June quarter. In the September 2003 quarter, Ispat Iscor’s headline earnings per share was 198 cents. — I-Net Bridge