Thyssenkrupp Profit Slips, Brazil Mill Sale Weighs

By William Wilkes Features Dow Jones Newswires

German industrial conglomerate Thyssenkrupp AG (TKA.XE) on Thursday reported that net profit fell in the third quarter of fiscal 2017, due in part to the sale of a Brazilian steel mill.

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The company said it posted a net profit attributable to shareholders of 120 million euros ($140.86 million) for the period ended June 30, compared with a EUR130 million profit a year earlier. The figure was below analyst estimates for a EUR193 million.

Revenues rose to EUR10.93 billion from EUR9.87 billion, slightly beating analyst forecasts for a EUR10.69 billion result.

The company reiterated its full-year guidance, saying it expects operating profit to improve for the full year, with adjusted earnings before interest and taxes expected to rise to EUR1.8 billion.

Write to William Wilkes at william.wilkes@wsj.com

(END) Dow Jones Newswires

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August 10, 2017 01:45 ET (05:45 GMT)