Arcelor Mittal Q1 '07 meets core profit

Brussels, May 16: Arcelor Mittal, the world's largest steelmaker, on Wednesday reported first-quarter core profit of .3 billion, above its financial guidance of -4.2 billion and in line with analyst forecasts.

The company, which accounts for roughly 10 per cent of the world's steel production, said its sales reached .476 billion.

The average forecast of a Reuters poll of seven analysts gave Arcelor Mittal's first-quarter EBITDA (earnings before interest, tax, depreciation and amortisation) at .33 billion and its revenues at .75 billion.

Reuters>