TOKYO (dpa-AFX) - Nippon Steel Corporation (NISTY.PK, NISTF.PK), a Japanese steelmaker, on Thursday posted a downslide in its profit for the half year, as revenues edged down 0.7 percent over last year.
The Group's profit fell by 19.5 percent to 259.07 billion yen from last year's 321.8 billion yen. Nippon's attributable profit declined by 18.9 percent to 243.35 billion yen. Earnings per share slid to 232.92 yen from 288.94 yen last year.
The Group's operating profit for the first half decreased by 11.3 percent to 375.75 billion yen.
For the half year, Nippon's revenue edged down 0.7 percent to 4.38 trillion yen from 4.41 trillion yen last year.
Looking ahead to fiscal 2024, the Group said it now expects attributable profit of 310 billion yen, on revenues of 8.60 trillion yen. Earlier, the group forecast profit of 340 billion yen, on revenues of 8.80 trillion yen.
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