30
May
06:45
Raw material prices drag on Mayu Global earnings
Malaysian steel manufacturer Mayu Global saw its earnings dive in its third financial quarter ended 31 March, 2023. This was dragged down by lower profit margins in the manufacturing segment due to higher raw materials prices, Kallanish notes.
The group’s net profit for the quarter plunged 69% to MYR 645,000 ($139,752) from MYR 2.08m a year earlier.
Its revenue for the quarter, however, rose 44.03% to MYR 35.3m from MYR 24.51m, driven by higher progress bil…
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Anonymous
Very good overview of the weekly steel market.
Anonymous