Posted on 16 Nov 2015
CSC Steel Holdings Bhd's pre-tax profit for the third quarter ended
Sept 30, 2015 rose to RM12.3 million compared to a loss of RM3.1 million
in the same quarter last year.
In a filing to Bursa Malaysia Monday, CSC said the improvement in
pre-tax profit was due to lower production cost during the quarter as a
result of lower hot rolled steel prices and a consolidation gain of
RM2.3 million arising from the disposal of the group's unit, CBC
Bio-Coal Sdn Bhd.
CSC said revenue, however, slipped to RM222.7 million from RM254.4
million previously, due to the decrease in selling prices of all the
group's steel products and lower sales volume.
It said the Malaysian government has initiated trade measures to help
the local industry to defend against the surge in imports and lower
prices and this had hurt the local steel manufacturers.
"We believe the new steel policy will encourage positive benefit on the future business of the company," it said.
