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ArcelorMittal gone on profit for the second quarter

ArcelorMittal - the largest steel producer in the world, posted a net profit for the second quarter amounted to 1.7 billion dollars in losses from 792 million a year earlier. The sales revenue for the period increased by 43% yoy to 21.65 billion dollars. "The improved results are in line with our expectations and reflect continued slow and progressive recovery," said CEO Lakshmi Mittal. "The challenge in the second half of the year will be to transfer the cost of production in the entire increase in its cost," he said. Earnings before interest, taxes, depreciation and amortization for the quarter increased nearly two and a half times yoy to $ 3 billion (estimated). However, it is expected to be 2.1 to 2.5 spadne billion in the next quarter due to seasonal factors and the economic slowdown in China, have made the company, while pointing estimates 2.75 billion dollars. ArcelorMittal announced that is considering a split from his band stainless steel division.
The company realized good marketing strategy and increased its market stake.