TOKYO (Reuters) -Kobe Steel, Japan’s third largest steelmaker, reported on Thursday a net profit of 38.64 billion yen ($262 million) for the three months ended June 30, up 60.7% from a year earlier and beating analysts’ forecasts.
An LSEG poll of analysts had expected a quarterly net profit of 31.92 billion yen. In the same period last year, the company recorded a profit of 24.04 billion yen.
Kobe Steel maintained its annual profit forecast at 100 billion yen for the year ending next March, above LSEG analysts’ estimates of 96.30 billion yen.
($1 = 147.5100 yen)
(Reporting by Yuka Obayashi; Editing by Muralikumar Anantharaman)
