Riyadh – Mubasher: Saudi Arabian Mining (Ma’aden) reported a 41.85% rise in profits for the first quarter of 2017.
The company achieved a net profit of SAR 275.61 million in Q1-17, compared profit of SAR 194.3 million in the same period in 2016.
The company attributed the rise in net profits to higher sales due to the increase in sales volume of all products, and of the average realised prices of aluminum and gold, according to a bourse filing on Sunday.
Sales reached SAR 2.72 billion in Q1-17 compared to SAR 2.27 billion in the year-ago period, with a 20% increase.
