23
Feb
18:03
Hadeed performance turns around in Q4
Saudi Iron and Steel Company (Hadeed) reported a -16% on-year drop in revenue in 2016 to SAR 9.01 billion ($2.4 billion), Kallanish learns from parent company Sabic. Net loss, however, narrowed 11% to SAR 1.3 billion.
Q4 represented a marked turnaround for Hadeed’s financial performance, given that in the year through September 2016 the steelmaker’s revenue dropped -23% on-year and net loss deepened -170%. The steelmaker initially started to experien…
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Anonymous
Very good overview of the weekly steel market.
Anonymous