SEOUL, March 30 South Korean steelmaker POSCO
said on Thursday it estimated its first-quarter
operating profit likely jumped 82 percent, topping analysts'
expectations, as rising steel prices outpaced growth in raw
Disclosing preliminary earnings guidance for the first time,
the world's fourth-largest steelmaker said operating profit for
January-March was about 1.2 trillion won ($1.07 billion),
compared with 659.8 billion won a year ago and a consensus
forecast of 816 billion won from 16 analysts' views.
POSCO, which estimated revenue climbed 17 percent to 14.6
trillion won in the period, expects to report final
first-quarter numbers next month.
($1 = 1,118.4000 won)
(Reporting by Hyunjoo Jin; Editing by Kenneth Maxwell)