Southern Steel Bhd’s net profit in the second quarter (Q2) ended December 31, 2017, rose 91.41 per cent to RM69.96 million from RM36.55 million in the same period a year ago.

KUALA LUMPUR: Southern Steel Bhd’s net profit in the second quarter (Q2) ended December 31, 2017, rose 91.41 per cent to RM69.96 million from RM36.55 million in the same period a year ago, due to higher sales volume and marginally higher margin despite higher material cost.

In an exchange filing, Southern Steel’s revenue in Q2 rose 30 per cent to RM956.44 million from RM731.57 million.

The company said it expects demand to grow moderately in the coming quarters with the gradual rollout of the infrastructure projects. “However, the market is expected to remain competitive with the imminent entry of new capacity to the industry.”

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