South Korean steelmaker POSCO said on Monday its second-quarter operating profit climbed 28 percent, short of bullish market estimates, amid rising prices for the global construction industry mainstay.
POSCO, the world's fifth-biggest steelmaker, said its consolidated April-June operating profit was 1.25 trillion won ($1.11 billion). That compared with a 1.32 trillion won average estimate from 12 analysts polled by Reuters, and 979.1 billion won in the same period a year earlier.
Revenue climbed 7.6 percent to 16.08 trillion won in the second quarter from a year earlier. ($1 = 1,130.2500 won) (Reporting by Jane Chung Editing by Kenneth Maxwell)