30
Jun
04:56
Inventory costs slash Hiap Teck's July-quarter net profit
Malaysian steel firm Hiap Teck Venture's net profit for the third fiscal quarter through April fell 51.14% on-year to RM 32.21 million ($7.31m), from RM 65.93m a year ago, dragged by higher costs of inventories, Kallanish notes.
The group's revenue for the quarter, however, climbed 38.62% to RM 456.95m, underpinned by higher sales volumes and average selling prices.
As for the nine months ended 30 April 2022, the group's net profit rose 27.78% on…
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Anonymous
Very good overview of the weekly steel market.
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