Riyadh – Mubasher: Al Yamamah Steel Industries reported net profits of SAR 179 million ($47.7 million) for the year ended 30 September 2016, up by 12.58% y-o-y.
The company saw net profits of SAR 159 million at the previous year.
The company attributed its profit increase to the recovery of the steel pipes prices as well as the steel prices on the decline of the cost of sales and the increase of the profit margin.
