ArcelorMittal posts $1.68 billon loss for 2009

The company suffered three consecutive quarterly losses before returning to profit in the third quarter last year.

By Agencies | Feb 10, 2010, 11.57 AM IST

BRUSSELS: ArcelorMittal SA, the world's largest steel maker, says it had a loss of $1.68 billion for all of 2009, compared to a $12.2 billion profit a year earlier.

But the steelmaker says it posted a profit of $684 million in the last three months of 2009, lower than a third quarter profit figure of $903 million but well above a $2.6 billion loss in 2008's fourth quarter.

The company suffered three consecutive quarterly losses before returning to profit in the third quarter last year.

Sales of the steel used for cars, machinery and buildings nearly halved during last year's recession. ArcelorMittal sales were $65 billion last year, down 48 percent from $124.9 billion in 2008.

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