28
Feb
02:56
Choo Bee earnings slump on higher inventories cost
Malaysian steel products maker Choo Bee Metal Industries' net profit for the full year ended 31 December, 2022 (FY22) slumped 92.11% to MYR 8.14 million ($1.82m) from MYR 103.22m a year ago, Kallanish notes.
The sharp drop in profit was in line with revenue which declined by 2.91% to MYR 493.11m from MYR 508.87m.
The profit was pressured further by higher inventory costs as well as the write-down of inventories amounting to MYR 12.6m and fair valuation loss…
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Anonymous
Very good overview of the weekly steel market.
Anonymous