(LEAD) POSCO Holdings Q1 operating profit down 70 pct on increased costs

▲ The corporate logo of POSCO Holdings Inc. (PHOTO NOT FOR SALE) (Yonhap)

(LEAD) POSCO Holdings-Q1 earnings guidance

(LEAD) POSCO Holdings Q1 operating profit down 70 pct on increased costs

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SEOUL, April 18 (Yonhap) -- POSCO Holdings Inc. on Tuesday said its first-quarter operating income is estimated at 700 billion won (US$531 million), down 69.6 percent from a year earlier, on increased costs.

Sales decreased 8.9 percent on-year to 19.39 trillion won. The steelmaker did not reveal net earnings.

The operating profit was 20.5 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

The company will release its final earnings report later.

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