ThyssenKrupp raises profits forecast

21st January 2005, Comments 0 comments

21 January 2005, DUSSELDORF - Giant German steel and engineering group ThyssenKrupp has increased its profits forecast for the 2004/2005 business year after a strong global economy helped to power sales in the first quarter, the company said on Friday. Pre-tax profits will probably be higher than the previous year's results, the company said at the start of its annual meeting in Dusseldorf. Pre-tax earnings in the first quarter until the end of December more than doubled to EUR 400 million from EUR 168 mil

21 January 2005

DUSSELDORF - Giant German steel and engineering group ThyssenKrupp has increased its profits forecast for the 2004/2005 business year after a strong global economy helped to power sales in the first quarter, the company said on Friday.

Pre-tax profits will probably be higher than the previous year's results, the company said at the start of its annual meeting in Dusseldorf.

Pre-tax earnings in the first quarter until the end of December more than doubled to EUR 400 million from EUR 168 million. Earnings were however boosted by the sale of property assets.

Turnover was up from EUR 8.5 billion to EUR 10.1 billion, according to preliminary figures.

The steelmaker forecast earnings for the current business year ending 30 September  will rise to EUR 41 billion from last year's EUR 39.3 billion. 

[Copyright DPA with Expatica 2005]

Subject: German news 

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