SEOUL, Jan 31 (Reuters) - South Korean steelmaker POSCO posted a 56.1% drop in operating profit in the fourth quarter, missing analysts’ forecasts, due to weaker profit margins.
The world’s fifth-biggest steelmaker released its full-year 2019 numbers in a filing, without giving a breakdown of its October-December figures.
Reuters calculations showed the steelmaker’s fourth-quarter consolidated profit was 558 billion won ($478.07 million)compared with 1.3 trillion won a year earlier. The average of estimates from 20 analysts came in at 731 billion won, according to Refinitiv SmartEstimate. ($1 = 1,167.2000 won) (Reporting By Jane Chung; Editing by Tom Hogue and Kim Coghill)