He also predicted Hyundai Steel's third-quarter financial performance at 3,019.5 billion won in sales revenue (-8.5% from previous quarter), 153.5 billion won in operating profit (-15.4%), and 291.9 billion won in net profit (+222.5%). Comparing to market consensus figures, sales revenue is almost same while those for operating profit and net profit would be in excess by 4.0 percent and 38.3 percent, respectively.
The improved financial results are due largely to the price increase in August by 30,000 won per ton for the company's hot-rolled steel sheets sold for large customers.
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