03
Oct
01:50
Astino’s July-quarter profit drops on weaker overseas demand
Malaysian steel products producer Astino reported lower profit in the fourth fiscal quarter ended 31 July, dragged by weaker overseas demand and higher inventories write-down, Kallanish notes.
The firm says in a bourse filing that its net profit for the quarter fell 35.67% to MYR 5.35 million ($1.13m) from MYR 8.32m a year earlier.
This was mainly due to weaker overseas market demand. In addition, the write-down of inventories amounting to MYR 1.7m was more…
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Anonymous
Very good overview of the weekly steel market.
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