19
Apr
12:06
Hadeed reduces Q1 loss on-quarter
Saudi Iron & Steel Co. (Hadeed) slumped to a net loss of SAR 725 million ($193.4m) in the first quarter from a profit of SAR 98.2m in Q1 2015. This, coupled with lower sales prices, dragged down parent company Sabic’s consolidated net profit -13% on-year in Q1 to SAR 3.4 billion.
Hadeed’s net loss did, however, narrow from SAR 1.1 billion in Q4 2015. This helped Sabic’s consolidated net profit grow 11% on-quarter in Q1, Kallanish learns fro…
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Anonymous
Very good overview of the weekly steel market.
Anonymous