TOKYO (dpa-AFX) - Nippon Steel & Sumitomo Metal Corp. (NISTY.PK) reported Friday that its first-half profit attributable to owners of parent climbed 42.5 percent to 141.28 billion yen from 99.15 billion yen in the prior year. Earnings per share rose to 160.07 yen from 112.34 yen last year.
Meanwhile, operating profit declined 13.3 percent to 86.71 billion yen from 100 billion yen in the prior year.
Consolidated net sales for the quarter rose 5.8 percent to 2.90 trillion yen from 2.75 trillion yen last year.
Looking ahead to fiscal 2018, the company continues to forecasts profit attributable to owners of parent of 240 billion yen or 269.0 yen per share and operating profit of 350 billion yen. Net sales are now expected to be 6.2 trillion yen, down from previous estimate of 6.3 trillion yen.
In Japan, Nippon Steel shares gained 3.8 percent to trade at 2,133 yen.
Copyright RTT News/dpa-AFX