Steel Giant's Profits Cool, but Britain's Richest Man Is Still Optimistic

Western Mail › August 11, 2005

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Summary

British tycoon Lakshmi Mittal announced a dip in profits for the world's largest steelmaker yesterday, after prices softened and raw material costs rose. Mittal Steel, which took the number one spot after acquiring US firm ISG in April, unveiled net income of pounds 610m for the three months to June 30.

This compared with pounds 643.6m in the previous quarter and pounds 716.4m a year ago.

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Steel Giant's Profits Cool, but Britain's Richest Man Is Still Optimistic

Following the pounds 4.5bn acqui- sition of ISG, the enlarged company ...

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