Bisalloy Steel Group Limited announced that throughout the recent macroeconomic and geopolitical volatility, Bisalloy has continued to demonstrate strength and resilience in its business performance. With this volatility ongoing, they are anticipating normalisation of product margins as a result of expected reductions in international steel prices, along with the impact of higher energy and transportation costs. They also cannot discount the impact of future disruptions caused by COVID-19 and ongoing supply chain disruptions, particularly sea freight.

Therefore, Bisalloy is projecting a reduction in profits in FY23 compared to FY22.