Posco Q1 net income down 44 pct. to 435 bln won

SEOUL, April 24 (Yonhap) -- Posco on Friday reported its first-quarter net profit of 434.7 billion won (US$ 351.5 million), down 44.2 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period fell 41.4 percent on-year to 705.3 billion won. Sales decreased 9.2 percent to 14.54 trillion won.

The operating profit was 22.7 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).
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