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25 Sep
08:27

Southern Alliance reports higher profits

Malaysia-headquartered iron ore miner Southern Alliance Mining (SAM) reported better performance in its 2020 fiscal year ended 31 July 2020, thanks to higher sales volumes and prices, Kallanish notes. During the reporting period, the company saw a 34% year-on-year increase in revenue to MYR 254.2 million ($61m). This was despite the temporary suspension of operations due to the Covid-19 pandemic. Gross profit increased 73% to MYR 107.1m while gross profit mar…
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