Al Yamamah Steel Industries Company's profits increased, achieving a jump in net profit by 310.28%, to reach 207.832 million riyals, compared to the annual financial results ending on September 30, compared to 50.656 million riyals during the previous fiscal year.
According to Arabia Net, the company's revenues decreased by 13% to reach 1.619 billion riyals, compared to 1.867 billion riyals during the same period last year.
The company said, in a statement to the Saudi Tadawul, that the main reason for the increase in net profit during the current year is due to the increase in selling prices of products in the construction and electricity sectors by 36% and 6.32%, respectively, which is higher than the increase in cost of sales, which amounted to 14.75% in the construction sector. , while it decreased in the electricity sector by 2.05%, which is supported by the cost of raw materials.
The decrease in the quantities sold to the construction sector by 40.3% led to a decrease in selling and distribution expenses by 15.9 million Saudi riyals, or by 38.57%, as a result of the decrease in shipping expenses. In addition to a decrease in financing burdens by 8.5 million riyals, or 38.89%.
Dividends
The share of cash dividends is about one riyal per share
She pointed out that the eligibility date is Thursday, December 30, provided that the eligibility is for the shareholders who own shares on the due date who are registered in the company's shareholders register at the Depository Center at the end of the second trading day following the due date.
