ArcelorMittal 2nd quarter profit falls 11%

BRUSSELS – ArcelorMittal has announced its second quarter profits fell 11 percent to $1.54 billion, compared to $1.71 billion one year ago.

Sales were up 25 percent to $25.13 billion from one year ago.

Lakshmi N. Mittal, chief executive officer, said that even with an expected seasonal downturn in the third quarter, “We do not expect this to be as pronounced as last year, and overall the group’s performance in the second half of 2011 should compare favorably with the second half of 2010.”





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