February 8, 2018 / 6:45 AM / 3 months ago

Voestalpine's Q3 net profit boosted by strong steel demand

VIENNA, Feb 8 (Reuters) - Austria’s Voestalpine reported a higher than expected increase in its third-quarter net profit, helped by rising steel prices and strong demand from the automotive industry.

Net profit rose to 167 million euros ($205 million), just beating analyst forecasts of 163 million, the steelmaker said on Wednesday.

“From today’s point of view the operating result (EBITDA) in the fourth quarter should achieve a level similar to the very strong first quarter,” the group said in a statement. ($1 = 0.8149 euros) (Reporting by Kirsti Knolle Editing by Shri Navaratnam)

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