Riyadh – Mubasher: Al Yamamah Steel Industries’ net profits rose 36.22% year-on-year to SAR 25.2 million in the fourth quarter ended 30 September 2016 from SAR 18.5 million.
The increase in net profit was attributed to improved steel pipe prices, lower sales cost and higher profit margin, according to a bourse filing.
Total revenues fell 14% to SAR 280.40 million in Q4-16 from SAR 327.80 in Q3-15.
Net profits were up 14.81% to SAR 182.2 million in the twelve-month period ended 30 September 2016 compared to SAR 158.7 million in the same period of 2015.
