SEOUL -- Steel giant Posco's operating profit more than quadrupled in the third quarter from a year ago thanks to rising global steel prices, resulting in record-high quarterly earnings.
South Korea's biggest steelmaker said on Monday operating profit hit 3.1 trillion won ($2.7 billion) in the July-September quarter, up 365.7% from the previous year. Revenue jumped 44.7% to 20.6 trillion won during the same period. Net profit, meanwhile, soared fivefold to 2.6 trillion won.
