High prices support Afarak Q3 turnover but loss widens vs last year

By Davide Ghilotti
Published: Monday, 20 November 2017

The company benefited from high prices in both ferroalloys and speciality materials including foundry chromite but an increase in costs among other factors caused its third-quarter loss to widen year on year.

Afarak Group Plc attributed strong revenue growth in the third quarter to higher sales prices in ferroalloys and speciality materials including foundry chromite but its loss widened from a year earlier due to seasonal downtrends and higher costs.

A 53% year-on-year rise in third-quarter revenues to €44.2 million ($52.1 million)...

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