30
Nov
03:21
Ann Joo posts loss on higher input costs
Despite higher revenue, Malaysian steelmaker Ann Joo Resources slipped into loss in the third quarter due to adverse time-lag effects of higher raw material and fuel costs, Kallanish notes.
The group reported a net loss of MYR 133.48 million ($29.83m) in the quarter, as compared to a net profit of MYR 69.08m a year ago.
The group's revenue, however, surged 87.53% to MYR 760.78m from MYR 405.69m a year ago.
In the nine months through September, the grou…
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Anonymous
Very good overview of the weekly steel market.
Anonymous