03
May
14:41
Hadeed first-quarter sales surge, turns profitable
Saudi Iron & Steel Company (Hadeed) saw sales surge 59% on-year in the first quarter to SAR 3.28 billion ($874.67 million), Kallanish learns from parent company Sabic. The steelmaker also reported SAR 27.88m net income attributable to Sabic equity holders versus a loss of SAR 34.65m in the year-earlier quarter.
Coupled with a 17% rise in petrochemicals segment revenue, this helped boost Sabic’s consolidated sales 15% in Q1 to SAR 41.86 billion. Net inc…
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Anonymous
Very good overview of the weekly steel market.
Anonymous