13
Oct
12:05
Saudi re-roller increases profit 4% in Q3
Increased gross margin and a decline in cost of goods sold and general/administrative expenses saw United Wire Factories Co. boost net profit 4% on-year in the third quarter to SAR 21.2 million ($5.65m).
However, a decline in sales and gross margin meant Q3 net profit at the Saudi-based rebar re-roller, also known as Aslak, dropped -15% from the previous quarter, Kallanish learns.
In the nine months through September net profit plunged -26% to SAR 60m due to …
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Anonymous
Very good overview of the weekly steel market.
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