Asia Enterprises Holding, the regional distributor of steel products to industrial end-users, today reported a 9% increase in net profit to $8.2 million for the 12 months ended 31 December 2009 (FY2009), on the back of an improved performance in the second half of the year.
Group revenue however declined 18% to $145.6 million in FY2009 due to the impact of the global economic recession on industrial activity in the region, and substantial fall in average selling prices of steel products compared to FY2008.
