- Friday, April 19, 2024
By: Rithika Siddhartha
GLOBAL steel giant ArcelorMittal said yesterday (9) its net profit soared in the third quarter thanks to solid market demand as well as strong prices for its products. Sales jumped by 21.5 per cent from the same period last year to $17.6 billion (€15.1 billion), while its net profit shot up 71.4 per cent to $1.2 billion, both beating the consensus of estimates of analysts surveyed by Bloomberg. “Favourable market conditions have supported another solid quarterly performance,” chief executive Lakshmi Mittal said in a statement. He pointed to operating earnings over the first nine months of the year, which…
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