Global refractories giant RHI posted a 2.2% increase in its profit for the third quarter of 2011 but warned that steel output had been negatively affected by the economic situation in Europe.
Gross profit in the third quarter was at €89.3m. ($123.1m.) Net cash flow from operating activities was at €74.9m., up from a loss of €4.9m. a year ago.
Group revenue was at €429.8m., up from €381.3m., a year ago. In total the company sold 474,600 tonnes of aggregate material in Q3, compared to 450,000 tonnes the previous year.
Revenue for the company’s industrial division were weaker in Q3 2011...