{"id":2598,"date":"2019-02-28T14:19:48","date_gmt":"2019-02-28T14:19:48","guid":{"rendered":"https:\/\/masteel.investor.net.my\/?p=2598"},"modified":"2020-02-27T14:20:53","modified_gmt":"2020-02-27T14:20:53","slug":"the-edge-masteel-posts-rm24-8-mil-loss-in-4q","status":"publish","type":"post","link":"https:\/\/masteel.investor.net.my\/the-edge-masteel-posts-rm24-8-mil-loss-in-4q.html","title":{"rendered":"[The Edge] Masteel posts RM24.8 mil loss in 4Q"},"content":{"rendered":"\n
By Tan Xue Ying<\/p>\n\n\n\n
KUALA LUMPUR (Feb 28): Malaysia Steel Works (KL) Bhd (Masteel) posted a loss of RM24.87 million in the fourth quarter ended Dec 31, 2018 or a loss per share of 5.84 sen because of lower margins, impairment of inventories and higher administrative expenses.<\/p>\n\n\n\n
In the year-ago quarter, it made a net profit of RM12.12 million or earnings per share of 4.02 sen.<\/p>\n\n\n\n
Revenue contracted 17.4% to RM348.93 million from RM422.33 million in the same quarter a year ago, due to lower sales volume and selling price.<\/p>\n\n\n\n
For the full year, Masteel\u2019s net profit slipped to RM6.75 million, a significant decline compared with RM75.46 million recorded in FY17 despite higher revenue of RM1.5 billion, from RM1.46 billion in the previous year.<\/p>\n\n\n\n
Masteel said its cost of production should be better in the Jan-March quarter as it expects to see convergence of its material costs between iron ore and scrap for steel-making.<\/p>\n\n\n\n
However, the seasonal slowdown because of the Lunar New Year festivities, and a general slowdown in the construction and property sectors could further dampen demand for Masteel\u2019s product and prices.<\/p>\n\n\n\n
To counter this, Masteel said it is implementing extensive initiatives to streamline its manufacturing processes and supply chain to improve margins.<\/p>\n\n\n\n
Masteel fell three sen or 5.56% to 43 sen today, valuing the company at RM180.87 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
By Tan Xue Ying KUALA LUMPUR (Feb 28): Malaysia Steel Works (KL) Bhd (Masteel) posted a loss of RM24.87 million in the fourth quarter ended Dec 31, 2018 or a loss per share of 5.84 sen because of lower margins, impairment of inventories and higher administrative expenses. In the year-ago quarter, it made a net […]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"yoast_head":"\n