Steelmaker reports 44% profit jump

POSCO, the biggest steelmaker in the Republic of Korea, reported increased secondquarter operating profits due to positive earnings in its energy and construction businesses. Consolidated operating profits jumped 44 percent from a year earlier to 979.1 billion won ($869 million) in the period between April and June. Revenue climbed 16.2 percent to 14.94 trillion won during the same period, while net income increased 6.6 percent to 530.1 billion won.