Afarak Group Plc (GB:AFRK) has released an update.
Afarak Group SE forecasts a significant financial downturn for the first half of 2024, with an expected 70% decrease in operating profit to 4-5 million euros and a 26% drop in revenue to 70-75 million euros compared to the previous year. Despite challenging market conditions, particularly in the European stainless steel industry, the company anticipates stable performance in special quality markets and continued positive trends in the ferroalloys segment.
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