31
May
02:27
Choo Bee Q1 earnings plunge on lower prices
Malaysian steel products manufacturer Choo Bee Metal Industries saw its net profit plunge in the first quarter ended 31 March, 2023 on declining average selling prices and weaker market demand, Kallanish notes.
The group’s net profit for the quarter slumped 80.06% to MYR 3.62 million ($790,000) from MYR 18.13m a year ago.
Its revenue for the quarter also tumbled 35.34% to MYR 104.77m from MYR 162.04m. The softer revenue was due to a weaker contribution fro…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous