06
Jun
02:55
Masteel’s profit surges on higher margin in 1Q
Malaysian steel products maker Malaysia Steel Works (Masteel) has reported higher earnings in the first quarter ended 31 March, 2024, due to improved margins, Kallanish notes.
The firm says in a bourse filing that its net profit soared more than four times year-on-year to MYR 3.14 million ($669,079) in the first quarter. The higher profit was mainly due to higher margins and lower unrealized foreign exchange losses.
The firm’s revenue for the quarter also j…
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