Posted on 25 May 2016
Malaysia Steel Works (KL) Bhd returned to the black in the first quarter ended March 31, 2016 to post a pre-tax profit of RM6.37 million against a pre-tax loss of RM9.90 million in the same quarter last year.
"The increase was mainly due to the higher sales volume, margin and forex gain," it said in a filing to Bursa Malaysia today.
Revenue however declined to RM318.01 million from RM325.39 million previously, it said.
Moving forward, the company said the prices and margins of the its steel products are not expected to revisit the unprecedented lows of the second half of 2015.
"This will augur well for the strengthening of the company's finances," it said.
