Posco operating profit climbs 29%

Posco (PKX) operating profit +29% to 488B Korean won and misses consensus of 557B won, with earnings kept down by the strong won and weak demand.

Expects revenue of 31T won this year, flattish from 30.5T won in 2013.

Intends to cut investment to 3.7T won in 2014 from 4.3T won in 2013.

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