01
Apr
04:11
Hiap Teck's 2Q profit slips despite higher revenue
Malaysian steelmaker Hiap Teck Venture has reported lower earnings in the second quarter ended 31 January, despite higher revenue, due to a decline in average steel selling price, Kallanish notes.
Hiap Teck says in a bourse filing that its net profit slipped 4.4% to MYR 21.43 million ($4.54m) in the second quarter, from MYR 22.42m a year ago. Its revenue for the quarter, however, grew 27.43% to MYR 459.45m from MYR 360.56m.
The growth in revenue was p…
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Anonymous
Very good overview of the weekly steel market.
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