19
Apr
01:00
Al Jazeera Steel revenue down 12% in Q1, but expenses also decline
Omani re-roller and pipemaker Al Jazeera Steel posted a -12% year-on-year decline in revenue in the first quarter to OMR 21.49 million ($55.85m), while net profit after tax plunged -67% to OMR 553,552, Kallanish learns from the firm. Full operating results for Q1 are expected later this month.
Considerably weaker steel prices due to the slump in iron ore and global overcapacity are thought to be behind the lower earnings compared to Q1 2014. Jazeera’s …
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Anonymous
Very good overview of the weekly steel market.
Anonymous