Arab Today, arab today arcelormittal profits recover sees further rise
Last Updated : GMT 13:12:40
Arab Today, arab today
Arab Today, arab today

ArcelorMittal profits recover, sees further rise

Arab Today, arab today

Arab Today, arab today ArcelorMittal profits recover, sees further rise

PARIS - AFP

Top global steelmaker ArcelorMittal reported on Wednesday a sharp rally of net profit to $1.07 billion (744 million euros) in the first quarter after a setback at the end of last year, boosted by exceptional items. The company, by far the biggest steelmaker by volume, said it expected profitability to improve further in the second quarter. The group reported a loss for the last quarter of last year because of costs arising from the sale of its stainless steel division. In the comparable first quarter of last year it made a net profit of 640 million dollars. ArcelorMittal said that in the first quarter sales had risen by 27.3 percent on a 12-month basis to 22.2 billion dollars. It made a gross operating profit of $2.6 billion, marking an increase of 52 percent. This was slightly higher than its forecast range of 2.0-2.5 billion euros. The outcome included the recovery of $300 million in the form of unused provisions. Chief executive Lakshmi Mittal, rated by the UK\'s Sunday Times as Britain\'s richest man, said that as the company had expected, activity had picked up at the beginning of the year and the price for steel had risen. This trend should be even more pronounced in the second quarter, he said. The company remained confident that 2011 would be a better year than 2010. In its latest update of its list, the Sunday Times this week said India-born Mittal\'s fortune shrank by around 22 percent to £17.5 billion in the past 12 months, but he remains much wealthier than the second person on the rich list, Russian businessman Alisher Usmanov who moved up from sixth place after swelling his fortune by £7.7 billion to £12.4 billion.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today arcelormittal profits recover sees further rise Arab Today, arab today arcelormittal profits recover sees further rise

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 07:01 2017 Wednesday ,15 February

Qatar’s Simaisma Resort marks 1st anniversary

GMT 06:10 2017 Wednesday ,15 February

Mobily provides services at Saudi airports

GMT 21:53 2017 Tuesday ,14 February

Nama group to hire banks to help raise $2b
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday