Struggling Steel Giant Thyssenkrupp's Shares Slump After Profit Hit

Fonte: International Business Times

Thyssenkrupp's steel business is undergoing a major overhaul AFP Thyssenkrupp's shares slumped Thursday after it reported worse-than-expected earnings and its steel business took a fresh hit, in more bad news for the struggling German industrial titan. The group said quarterly operating profits plunged about 90 percent from a year earlier to just 19 million euros ($21 million) -- far worse than analyst forecasts. In addition the group's European steel business took a 90-million-euro impairment in the January-March period, signalling fresh woes for a division that is in the middle of a painful restructuring.