(MENAFN) South Korea's Posco, the world"s fifth largest steel-maker, reported more-than-doubled net profit in the second quarter compared to a year ago, with a strong won cutting the value of its dollar-dominated debts, according to Oman Observer.
The steel giant posted a net profit USD473 million in the second quarter, up 102.6 percent from the same period a year ago.
But operating profit shrank 7 percent on-year to USD815 million, as the strong Korean currency also blunted competitiveness overseas and cut the value of repatriated earnings.
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