CSC Steel Holdings Bhd's Q1 earnings slump by 76.8% y-o-y
Malaysia-based CSC Steel Holdings Bhd posted its Q1 earnings slumped by 76.8% to MYR 5.55 million from MYR 24.03 million in the same period of a year ago, affected by a decline in sales of its steel products.
In the first quarter of this year, the company realized sales revenues of MYR 242.19 million, falling by 21.4% from MYR 308.4 million in the same period of the previous year.
In addition, the company’s Q1 profit before tax decreased 75.7% year on year to MYR31.9 million.
Meanwhile, the company predicted that the market condition would remain weak in the current quarter.
News Date 14 May 2012 13:51:55 reported by Mark Wang