CORRECTED: Steelmaker ThyssenKrupp reports a drop in Q3 profit

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ThyssenKrupp, the biggest German steel group, is doing well in its core activities, but said Friday that its third quarter net profit was hit once again by charges stemming from new plants.

The company reported a net profit of 212 million euros ($300 million) for the three months from April through June, a drop of 22 percent from the same period a year earlier.

Sales gained 10 percent however to 12.8 billion euros, and core earnings before interest and taxes (Ebit) was nine percent higher at 545 million euros.

© 2011 AFP

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