23
Aug
11:10
Saudi’s Watani Steel posts impressive first-half earnings
Saudi Arabia’s Watani Steel posted remarkable earnings in the first half of 2021.
The firm increased revenue by 56% on-year to SAR 322 million ($85.8m) versus SAR 205m in H1 2020. Net profit grew by 63% to SAR 30m, from SAR 18.3m a year earlier, according to the company’s half-year earnings report summary seen by Kallanish.
The increase in net profit in H1 was thanks to growth in sales volume and a decrease in financing expenses, the firm says without…
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Anonymous
Very good overview of the weekly steel market.
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