17
Jan
16:47
Al Yamamah revenue slumps over October to December
Saudi Arabia's Al Yamamah Steel Industries Company recorded a -25% on-year slump in revenue in its first fiscal quarter of 2016/17, or quarter through December, to SAR 325.43 million ($86.76m).
Net profit in Q4 declined -15% on-year to SAR 29.6m due to reduced profit margins in the electricity segment and supply schedule delays. This was, however, up 17% from Q3 thanks to increased shipments. Gross profit in Q4 was flat on-year at SAR 59.8m.
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Very good overview of the weekly steel market.
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