Afarak Group Plc (GB:AFRK) has released an update.
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Afarak Group SE anticipates a substantial decline in its financial performance for the first half of 2024, with operating profit (EBITDA) expected to drop by 70% and revenue forecasted to decrease by 26% compared to the previous year. Despite facing pricing pressures in the standard grade market and aggressive competition from Japan, the company reports increased demand and some price gains in the specialty grade market. Overall, Afarak remains focused on delivering stable results for 2024, supported by positive developments in the ferroalloy segment.
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