05
Feb
00:00
Lower steel margins drag down Astra Q4 profit
Saudi conglomerate Astra Industrial Group saw lower gross margins and higher operating costs at its domestically-based steel fabrication plant and Iraq-based rebar mill. This contributed to a -64% year-on-year decline in net profit in the fourth quarter to SAR 25.7 million ($6.85m).
Fabricator International Building Systems Factory (IBSF) suffered from an “increase in project costs, additional provisions and lower sales”, Astra says in a report m…
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Anonymous
Very good overview of the weekly steel market.
Anonymous