POSCO 2011 earnings dropped by 11.6pct on low steel prices

POSCO said that its earnings in 2011 dropped by 11.6% YoY due mainly to low steel prices and increased costs of raw materials.

Net profit reached KRW 3.7 trillion on a consolidated basis in 2011 as compared with a profit of KRW 4.19 trillion a year earlier. Sales rose by 44% YoY to KRW 68.9

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