SOUTH­ERN STEEL BACK IN THE BLACK IN Q1

The Sun (Malaysia) - - SUNBIZ -

KUALA LUMPUR: South­ern Steel Bhd re­turned to the black in the first quar­ter ended Sept 30, 2016, with a pre-tax profit of RM33.10 mil­lion against a pre-tax loss of RM56.58 mil­lion recorded in the same quar­ter last year. In a fil­ing to Bursa Malaysia to­day, South­ern Steel said the re­turn to prof­itabil­ity was due to higher sell­ing price and lower cost. Rev­enue eased to RM585.75 mil­lion from RM592.43 mil­lion chalked up pre­vi­ously. The board ex­pects the mar­ket to re­main un­cer­tain and volatile for the fi­nan­cial year end­ing June 30, 2017. – Ber­nama

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