Arafak Q3 impacted by seasonal factors

After delivering positive and robust first and second quarters, Nasdaq- and LSE-listed Afarak Group’s third quarter was hit by seasonal fluctuations. The group on Friday posted strong revenue growth on the back of higher ferrochrome prices and strong market fundamentals; however, profitability had been impacted on by higher costs of production in line with seasonal effects and a sharp increase in the cost of raw materials.