20
Oct
01:00
Saudi re-roller sees Q3 profit decline on lower sales value, margin
Saudi-based rebar re-roller United Wire Factories posted a 12.5% year-on-year decline in net profit in the third quarter to SAR 23.3 million ($6.2m). This was due to a reduction in both sales value and gross profit margin, the company tells Kallanish.
The Riyadh-based company known as Aslak also saw net income plummet 32% quarter-on-quarter in Q3 as a result of slower sales during Ramadan and the Eid holiday, as well as increased general and selling exp…
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Anonymous
Very good overview of the weekly steel market.
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