31
May
04:05
Ann Joo narrows losses in first quarter
Malaysian steelmaker Ann Joo Resources has reported lower losses for the first quarter ended 31 March, 2024, due to improved gross profit margins resulting from gradual normalisation of high material and fuel costs, Kallanish notes.
The firm says in a bourse filing that its net loss for the quarter narrowed to MYR 14.96 million ($3.18m) from MYR 21.08m a year ago.
The firm's revenue, however, slipped 3.38% year-on-year to MYR 648.08m. This was mainly du…
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Very good overview of the weekly steel market.
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