However, revenue for the period fell by 6% y-o-y to $716 million on lower steel prices, but was offset by higher delivery tonnage, which Ong estimates to be 5% higher y-o-y.
CGS International analyst Natalie Ong, who is taking over coverage on BRC Asia (SGX:BEC
) , is remaining positive on the steel company as its 1HFY2025 ended March 31 net profitstood at 53% of her full-year estimate.
For the six-month period, BRC Asia reported a net profit of $42.1 million, 9% higher y-o-y, due to favourable foreign exchange (forex) and derivative movements, which increased by $7.2 million and lower finance costs, which fell by $2.8 million.
