The financial statements of Al-Samaani Factory for Metal Industries showed a positive shift in the company's results during the first half of this year compared to the same period in 2019.
According to the company's results for the Saudi market (Tadawul) today, Thursday, profits for the period amounted to 1.22 million riyals, compared to losses of 622 thousand riyals in the first half of last year.
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The company said in a statement to the Stock Exchange that the positive shift in results during the comparison periods is due to the increase in sales of the current period by 12% compared to the same period.
and the percentage of operating costs as a percentage of sales decreased by 70% for the current period compared to 77% for the same period, which led to an increase in profit margins as a result of increased operating efficiency and lower government costs for labor over Following government decisions regarding industrial establishments.
Also, the selling, marketing, and general and administrative expenses for the current period decreased compared to the corresponding period of the previous year.
(Amazon Fun Knowledge)
