03
May
16:56
Construction demand weakness slashes Saudi re-roller's revenue
United Wire Factories Co. (Aslak) saw revenue drop -31% on-year in the first quarter to SAR 145 million ($38.66m) due to lack of construction steel demand, the Saudi re-roller says.
Aslak’s net profit in Q1 slumped -55% on-year to SAR 7.7m. This was due to reduced sales, lower profit margins, lack of demand, increased competition and lower sales prices, the firm says in a stock exchange filing seen by Kallanish. Net profit also fell -34% from Q4 …
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