13
May
13:15
Lower sales, higher costs erode Al Yamamah profit
Al Yamamah Steel reported a 1.04% on-year decline in revenue in its second fiscal quarter through March to SAR 448.3 million ($11.95 million), with net profit plummeting 41.4% to SAR 35.1m, Kallanish notes.
The main reason for the decrease in March-quarter profit was cost of raw materials increasing by 45.03% on-year. Also, the 27% hike in selling prices was lower than the cost increase in the construction segment. Sales volumes decreased on-year in…
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Anonymous
Very good overview of the weekly steel market.
Anonymous