28
Aug
09:51
Ann Joo profits slide despite revenue boost
Malaysia’s Ann Joo Resources saw its profits slide in the second quarter, in part due to a hefty foreign exchange loss. The company says it has a cautious outlook, but it expects to remain competitive because of its flexible costs, Kallanish notes.
The company saw revenues increase 3.8% year-on-year to MYR 509.63 million ($124m) in Q2 and increase 11% to MYR 1.1 billion in the first half of 2018. Net profit however was down -27.7% to MYR 20.7m in Q2 and do…
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Very good overview of the weekly steel market.
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