Japan's major electric steelmaker Godo Steel Ltd has announced a turnaround in its consolidated earnings prospects for April-September 2008 or the first half of fiscal 2008 (April 2008-March 2009) with upward revisions of the earnings prospects except sales. For contributory factors, prices of locally available ferrous scrap took a nosedive from August onward, while the company's sales prices of products were on the advance then.
As a result, the revised earnings prospects are Y118 billion in sales, down Y3,000 million from what was forecast earlier; Y1,600 million in operating profit; Y1,500 million in pretax profit; and Y800 million in net profit. The initial earnings prospects were Y1,000 million in operating loss; Y1,400 million in pretax loss; and Y1,200 million in net loss.
For the latter half of fiscal 2008, the company keeps unchanged its consolidated earnings so far. Accordingly, the group earnings for the whole of fiscal 2008 estimated at Y256 billion in sales, Y8,600 million in operating profit, Y8,900 million in pretax profit, and Y6,000 million in net profit. |
