Arab News, Saturday, May 14, 2022 | Shawwal 13, 1443
Saudi Al-Yamamah Steel sees profits slip to $9m in Q1
Saudi Arabia: Al Yamamah Steel
Industries Co. reported a 41 percent drop in profit for the first quarter of
2022.
The company registered a net profit of SR35
million ($9 million) for the first three months of the year, from a profit of
SR60 million in the same period a year earlier, according to a bourse filing.
The decrease in net profit resulted from higher
raw materials prices and lower sales in the construction segment.