21
Jan
08:54
Saudi re-roller’s profit shrinks despite higher revenue
Saudi United Wire Factories Co. (Aslak) reported an estimated net profit decline by 25.6% on-year to SAR 46.2 million ($12.3m) in 2021, despite an 18.4% rise in revenue to SAR 921.3m.
The company attributed the decrease in net profit to a decline in gross margin, without providing tonnages or more details, according to a bourse filing seen by Kallanish.
Aslak’s first-half-of-2021 interim results were more promising. The firm increased revenue 7% o…
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Very good overview of the weekly steel market.
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