|  | 31/08/2004 |
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JFE Steel to Post 400 billion yen of Profit in fiscal 2004
JFE Steel announced on Monday it would post 400 billion yen of consolidated recurring profit for fiscal 2004 ending March 2005, up by 120 billion yen from original forecast thanks to higher steel price under worldwide firm demand. The firm revised sales by 70 billion yen to 2.74 trillion yen and operating profit by 115 billion yen to 420 billion yen. The firm increases net profit target by 10 billion yen to 120 billion yen though it will post one-time loss for asset impairment in the first half. The firm expects 14.6% of return on sales in the year, up by 4.1 percentage points from original forecast and up from 8.8% in fiscal 2003. The recurring profit before interest on assets becomes 11.5% compared, up by 3.3 points from original and up from 6.5% in fiscal 2003. The liability decreased to 1.48 trillion yen, down by 120 billion yen and by from 1.837 trillion yen.
The firm expects 13.41 million tonnes of raw steel output for parent company and 15.85 million tonnes for consolidated basis in the first half compared with 13.41 million tonnes and 15.16 million tonnes in the same period of last year. The export to sales increases to 44.1% from 40.7%. The averaged steel selling price increased by 6,700 yen to 57,200 yen compared with the end of March.
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 | JFE Steel to Post 400 billion yen of Profit in fiscal 2004
| | Japanese Steel Product Import to Decrease for Three Consecutive Months
| | Kobe Steel to Hike Iron Powder Price by 5%
| | Ferrous Scrap Market Decreases in Osaka
| | Rebar price keep to increase in Tokyo
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