SALZGITTER (dpa-AFX) - Salzgitter Group (SZGPF.PK, SZGPY.PK) reported that its preliminary earnings before taxes for the first-half of 2017 surged to 100.2 million euros from last year's 16.1 million euros. This performance was mainly attributable to the strong results of the Strip Steel and Trading business units.
External sales were 4.616 billion euros up from 3.968 billion euros in the prior year.
Salzgitter said that the sound mid-year result and the firming up of the gratifying profit situation of the Strip Steel and Trading business units have prompted the company to increase its profit forecast for the full-year 2017.
The company now anticipate an increase in sales to around 9 billion euros for 2017.
The company raised its 2017 pre-tax profit outlook to a range of 150 million euros - 200 million euros from the prior estimation of 125 million euros - 175 million euros.
The company noted that further details on the financial statements for the first half year will be published on August 10, 2017.
Copyright RTT News/dpa-AFX