POSCO <005490.KS>, the world's third-biggest steelmaker and backed by billionaire investor Warren Buffett, posted a 5.9 percent rise in profit for the third quarter, meeting consensus, thanks to higher sales volume and prices.
The South Korean company, which trails ArcelorMittal
The profit compared with 1.03 trillion won a year ago, but was down from 1.5 trillion won in the previous quarter because of higher raw materials costs, POSCO said.
Shares in POSCO, in which Buffett's Berkshire Hathaway
(Reporting by Hyunjoo Jin; Editing by Muralikumar Anantharaman and Jonathan Hopfner)