Vienna  - Austria's biggest steelmaker voestalpine AG made a profit of 28 million euros (42 million dollars) in the quarter ending in September, recovering from a loss in the previous quarter, the company said Thursday.

However, the latest results were only a fraction of the 279-million-euro profit made between July and September of last year.

Voestalpine's business year runs from April to April, meaning the company reported its second-quarter results Thursday.

Voestalpine warned that it was premature to speak of a sustained recovery. While there was an upward trend in Asia, demand in North America and Europe was only picking up because customers were increasing their inventories, it said.

Some business segments showed signs of a belated downturn, namely the energy and aviation sectors, and Eastern European railway infrastructure.

The steelmaker made revenues of 2.07 billion euros in its second quarter, a year-on-year decrease of 36 per cent.

Operating profit plummeted to 70 million euros, from 428 million euros in the second quarter of 2008/09.

Voestalpine expects to make a profit or at least break even this business year, it said. (dpa)