Posco Holdings 2023 Net Tumbles 48.5 Pct Amid Steel Slump

South Korea’s top steelmaker POSCO Holdings Inc. said Tuesday its 2023 earnings nearly halved from a year earlier amid a global industry slump.

Net profit stood at 1.83 trillion won ($1.37 billion) last year, down 48.5 percent from a year earlier, the company said in a regulatory filing.

Sales declined 9 percent on-year to 77.13 trillion won, with operating income falling 27.2 percent to 3.53 trillion won.

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