18
Apr
16:51
Electricity segment drags down Al Yamamah March-quarter sales
Saudi Arabia's Al Yamamah Steel Industries Company recorded a -19% on-year slump in revenue in the second fiscal quarter through March (FQ2) to SAR 371.9 million ($99.15m). Net profit dropped -13% to SAR 48.3m due to increased cost of sales and the electricity segment’s lower profit margin resulting from a slowdown in projects.
FQ2 net profit did, however, rise 30% from FQ1 thanks to increased sales on-quarter.
In the six months through March Y…
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Anonymous
Very good overview of the weekly steel market.
Anonymous