04
Sep
13:02
Watani earnings dip on stagnant local market
Riyadh-based long steel producer Watani Iron Steel Company (WISC) reported a significant decline in its financial results for the first half of the year ended 30 June, notes Kallanish.
The stagnant market, high financing costs caused by hiked interest rates, and high raw material prices hit the company's profitability and slashed revenue, WISC says in a stock exchange filing without disclosing tonnages or further details.
The company posted a 48.7% year-on-ye…
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Anonymous
Very good overview of the weekly steel market.
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