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20 Jun

Kardemir posts lower Q1 revenue amid sales decline

Kardemir has reported a decrease in first-quarter revenue but the Turkish steelmaker narrowed its loss in the period.  Revenue declined by 23.6% year-on-year to TRY 12.2 billion ($374.1 million). The company's net loss was TRY 831.97 million, compared with a loss of TRY 1.738 billion last year. On an Ebitda basis, results improved from a loss of TRY 290.9 million last year to earnings of TRY 1.457 billion in January-March, Kallanish notes. Kar…
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