ThyssenKrupp profits rise in first quarter

0 Comments | AFP, February, 2004

ESSEN, Germany (AFP) — The German heavy industry giant ThyssenKrupp said its new business year, which runs until September, had started well, with steady sales and a rise in both new orders and earnings.

"After the economically subdued summer months of 2003, the overall economic picture brightened slightly in the further course of the year. This stimulated our business," ThyssenKrupp said in its first-quarter report.

Sales amounted to 8.742 billion euros (11 billion dollars) in the three months to December, steady from 8.699 billion euros a year earlier.

New orders rose by 6.4 percent to 9.624 billion euros.

Pre-tax profit was up 17 percent at 166 million euros and net profit jumped by 65 percent to 89 million euros in the October-December period....