Vienna - Austrian steelmaker voestalpine AG on Thursday reported strong increases in revenue and profit for its second business quarter, as it was able to pass along higher commodity prices to customers.
Net profit for the period from July to September (voestalpine's business year runs from April to April) increased to 279 million euros (352 million dollars), from 192 million euros in the same period last year.
Operating profit rose to 428 million euros, compared with 302 million euros in the second quarter of 2007.
Sales climbed by 17 per cent, to 3.23 billion euros, as the company passed higher material prices on to the market.