Southern Steel’s 1Q loss narrows

KUALA LUMPUR: Southern Steel Bhd expects the industry outlook to remain challenging as current global market conditions weigh on demand.

In its first quarter ended Sept 30, Southern Steel posted a lower net loss of RM39.6mil compared with RM64.4mil a year ago. Revenue for the quarter rose 4.8% to RM601.8mil against RM574mil previously while loss per share stood at 6.64 sen from 10.81 sen a year prior.