30
Apr
08:42
Hadeed first-quarter income falls on flat sales
Saudi Iron & Steel Company (Hadeed) reported flat on-year revenue in the first quarter at SAR 3.26 billion ($869.3 million), but income from operations fell -29% to SAR 50 million, Kallanish learns from parent company Sabic.
Compared to the fourth quarter of 2018, however, revenue surged 31% due mainly to increased sales volumes coupled with unchanged prices. Income from operations, though, dropped -72%, as Ebitda was down -27% to SAR 340m on higher operatin…
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Anonymous
Very good overview of the weekly steel market.
Anonymous