Ann Joo's margins to normalise, says Kenanga

KUALA LUMPUR: Ann Joo Resources Bhd may no longer be able to enjoy the robust margins it had seen in 2021 as the uptrend in steel prices has ended.

Following the steel producer's recent FY21 earnings annnouncement, Kenanga Research said in a report that Ann Joo's earnings are expected to come off steeply due to lower steel average selling price (ASP) and rising costs.

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Kenanga , Ann Joo Resources , steel


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