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.
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.
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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.
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(END) Dow Jones Newswires
August 10, 2017 01:45 ET (05:45 GMT)