08
May
09:13
Emirates Steel posts earnings decline in first quarter
Emirates Steel, the steel division of Emirates Steel Arkan (ESA) in the United Arab Emirates, posted a drop in revenue and profit in the first quarter, Kallanish notes.
According to the parent company's bourse filing, the steel division generated 91% of group revenue in Q1. Division revenue fell 9% on-year to AED 1.94 billion ($530 million), mainly due to a drop in export volumes. Profit fell by 10.5% to AED 123m from AED 137.5m a year ago as regional geopolit…
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Anonymous
Very good overview of the weekly steel market.
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