30
Sep
02:12
Hiap Teck Q4 margins fall
Malaysian steelmaker Hiap Teck Venture’s net profit for its fourth financial calendar quarter ended 31 July 2022 plunged 59.53% to MYR 24.48 million ($5.28m) from MYR 60.48m a year ago, Kallanish notes.
The lower profit was due to lower margins at the group’s downstream operating subsidiaries as a result of the higher costs of goods sold and the write-down of inventories to net realisable value.
The group’s revenue for the quarter, however…
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Anonymous
Very good overview of the weekly steel market.
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