KOBE (dpa-AFX) - Kobe Steel (KBSTY.PK) reported first half profit to owners of parent of 56.6 billion yen, a decline of 29.6% from prior year. Basic earnings per share was 143.35 yen compared to 203.44 yen.
For the six months ended September 30, 2024, net sales were 1.25 trillion yen, down 0.4%. The company said its net sales were roughly flat year on year due to decreased sales in the electric power segment, affected by a decline in thermal coal prices.
For fiscal 2024, the company anticipates: basic earnings per share of 304.03 yen; and net sales of 2.6 trillion yen. The company noted that its net sales are expected to decrease from the previous forecast due to a decrease in sales volume in the materials businesses, particularly in the automotive sector.
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