Based on CSC Steel Holdings Berhad’s Q2 2025 results, yes — the performance does show that the counter is back on track compared to the previous year, though challenges remain. Here’s a breakdown:

? Financial Performance

Revenue: RM363.5m in Q2 2025 vs RM366.0m in Q2 2024 (slightly lower, –1%).

Profit before tax: RM22.8m in Q2 2025 vs RM9.2m in Q2 2024 (+148%).

Profit after tax: RM17.8m in Q2 2025 vs RM7.2m in Q2 2024 (+147%).

Earnings per share: 4.81 sen in Q2 2025 vs 1.95 sen in Q2 2024.

Even though revenue dipped, profit margins improved significantly due to lower raw material costs and a stronger Ringgit against USD, which reduced import costs
.

? Trend vs Previous Quarter

Revenue increased 11% quarter-on-quarter (Q2 vs Q1 2025).

Profit before tax improved 43% QoQ (RM22.8m vs RM15.9m).

Profit after tax up 41% QoQ (RM17.8m vs RM12.6m)
.

This shows the company is regaining momentum and executing better operationally.

? Outlook

Challenges: global steel overcapacity, weak China demand, US tariffs, rising domestic costs (tariffs, SST, EPF, fuel subsidies).

Positives: Malaysian anti-dumping policies, cost control, efficiency, stronger Ringgit.

The company remains “cautiously optimistic” and is prioritising financial resilience
.

✅ Conclusion:
Yes — the steel counter is showing a strong recovery from previous losses/weak quarters. Despite slightly lower revenue, profitability is sharply up year-on-year and quarter-on-quarter. This suggests the company is back on track operationally, but external risks (global overcapacity, tariffs, domestic cost pressures) still need to be managed.