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CORPORATE NEWS

VSŽ posts 151m Sk 1Q98 net profit

Slovak steel maker VSŽ Holding a.s. announced on April 15 it had posted net profits of 151 million Sk ($4.3 million) in the first three months of 1998, up from 45 million in the first quarter of 1997. "We posted higher revenues and profit margins in the first quarter of this year compared to last year which resulted in higher profits for the first three months," said company president Július Rezeš. The 1Q results partly healed wounds the company suffered last year, when it recorded net profits of 595 million Sk, less than half of 1996 profits of 1.348 billion.

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