April 23, 2008 / 6:18 AM / 10 years ago

SSAB Q1 pretax tops consensus at 2.37 bln SEK

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STOCKHOLM, April 23 (Reuters) - Swedish specialty steelmaker SSAB SSABa.ST reported first-quarter pretax profit well above expectations on Wednesday, and said the full impact of rising iron ore prices was not felt during the period.

SSAB, which said in March it would sell its IPSCO Tubular division for $4 billion, posted a quarterly pretax profit of 2.37 billion Swedish crowns ($401 million) against a forecast of 1.81 billion in a Reuters poll and 2.14 billion in the same period the previous year.

Sales in the first quarter were 12.9 billion crowns against a forecast 14.1 billion crowns.

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