26
Aug
04:26
Choo Bee 2Q profit falls on higher raw material prices
Malaysian steel products manufacturer Choo Bee Metal Industries saw its net profit for the second quarter ended 30 June 2022 slump 50.86% to MYR 11.02 million ($2.46m) from MYR 22.42m a year ago. Higher raw material prices outweighed the increase in average selling prices, Kallanish notes.
The firm’s revenue for the quarter, however, rose 19.3% to MYR 116.49m from MYR 97.64m as higher trading segment revenue offset weaker manufacturing s…
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Anonymous
Very good overview of the weekly steel market.
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