28
Oct
13:20
Sabic's nine-month steel sales drop 23%
Saudi Iron and Steel Company (Hadeed) reported a -23% on-year drop in revenue in the nine months through September to SAR 6.57 billion ($1.75 billion), Kallanish learns from parent company Sabic. Net loss deepened -170% to SAR 890.36 million.
This compared with a -14% on-year drop in Sabic’s consolidated nine-month revenue to SAR 98.95 billion, and a -15% decline in net profit to SAR 13.37 billion.
Sabic said last week it plans to spin off Hadeed into a…
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Anonymous
Very good overview of the weekly steel market.
Anonymous