12
Feb
13:43
Weaker construction, growing competition curb Saudi re-roller's sales
Al Yamamah Steel Industries Company reported a -22.5% on-year decline in revenue in its first fiscal quarter through December 2017 (FQ1) to SAR 252.2 million ($67.25m). This came as sales volumes fell -38.2% due to weaker construction activity and intensified competition, Kallanish learns from the Saudi re-roller.
Net profit in FQ1 fell -76.9% to SAR 6.7m due to high cost of sales and a low profit margin resulting from the decline in shipments. Compared to …
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Anonymous
Very good overview of the weekly steel market.
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