SINGAPORE (Nov 24): Prefabricated steel reinforcement specialist, BRC Asia, has reported earnings of $8.3 million for FY16, a 46% decrease from the $15.4 million earnings seen in FY15.
For the year to September, revenue fell 10% to $346.8 million from lower unit selling prices which resulted from increased competition and lower steel prices, despite a higher volume of sales.
Gross margins remained unchanged at 8.3%.
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