23
Feb
17:19
Reduced demand slashes Saudi re-roller's fourth quarter sales
United Wire Factories Co. (Aslak) saw revenue drop -28% on-year in the fourth quarter of 2016 to SAR 157 million ($41.86 million) due to a decline in demand, says the Saudi re-roller.
This, coupled with higher general and administrative expenses, dragged Q4 net profit down -6.6% on-year to SAR 11.3m. Net profit also dropped -21% versus Q3.
Full-year 2016 revenue declined -24% versus 2015 to SAR 690m, also due to decreased demand. However, net profit last…
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Anonymous
Very good overview of the weekly steel market.
Anonymous