The National Industrialization Company, the Industrialization Company, made a profit after zakat and tax of 356.7 million riyals in the second quarter of 2021, compared to losses of about 180.2 million riyals in the same quarter of 2020.
According to Arabiya Net, National Industrialization's net profit increased by 8.92% in the second quarter of this year, compared to profits of about 327.5 million riyals in the first quarter of 2021.< /p>
The National Industrialization said in a statement on the Saudi Tadawul, today, Sunday, that achieving a net profit in the second quarter of this year, on an annual basis, is due to the increase in average prices. The sale, which also led to an increase in the company's share in the profits of associates and joint ventures.
It added that despite the increase in the average prices of some feedstocks and the decrease in the quantities sold for some products as a result of scheduled periodic maintenance operations, a decrease in other revenues and an increase in the provision for zakat and tax, noting that in the fourth quarter The second of the year 2020, a decrease in the value of some non-current assets was recorded by an amount of 209 million riyals, which is mainly due to the AMIC Advanced Metal Industries Complex, its subsidiary.
National Industrialization turned to achieving profits after zakat and tax, about 684.3 million riyals in the first half of 2021, compared to losses of about 232 million riyals in the same period of 2020.
