BREAKING NEWS

BREAKING NEWS

Steelmaker Salzgitter expects sharp profit drop in 2019

Steelmaker Salzgitter expects sharp profit drop in 2019
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Fabian Bimmer(Reuters)
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FRANKFURT (Reuters) - German steelmaker Salzgitter on Tuesday warned its pre-tax profit could fall by nearly two thirds, citing "gloomier sentiment and numerous economic and political uncertainties".

The group said it expects pre-tax profit of 125 million to 175 million euros (109.65 -153.50 million pounds) this year, down from 347 million in 2018, according to preliminary results.

Salzgitter shares were down 2 percent at 1335 GMT.

(Reporting by Christoph Steitz; editing by Thomas Seythal)

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