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Steel maker SSAB profit beats forecast

Steel maker SSAB profit beats forecast
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By Reuters
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STOCKHOLM - Swedish steel maker SSAB reported a bigger than expected jump in quarterly earnings on Friday on the back of strong steel prices, though it cautioned the market outlook was uncertain amid rising inflation and supply chain strains.

SSAB said second-quarter operating profit, excluding extraordinary items, rose to 10.40 billion Swedish crowns ($1.02 billion) from a year-ago 4.08 billion to beat the mean forecast of 9.10 billion, according to Refinitiv analysts' estimates.

($1 = 10.2365 Swedish crowns)

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