Riyadh – Mubasher: Al Yamamah Steel Industries’ net profits fell 14.94% year-on-year to SAR 29.6 million ($7.9 million) in the first quarter ended 31 December 2016 from SAR 34.8 million ($9.28 million).
The decrease in net profit was attributed to higher sales cost and lower profit margin of electricity sector, according to a bourse filing on Monday.
Net profits were up 12.58% to SAR 179 million in the twelve-month period ended 30 September 2016 compared to SAR 159 million in the same period of 2015.
