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MarketScreener Homepage  >  Equities  >  SAUDI ARABIA STOCK EXCHANGE  >  Al Yamamah Steel Industries Co    1304   SA1420I0KC11

AL YAMAMAH STEEL INDUSTRIES CO

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Al Yamamah Steel Industries : incurs SAR 30.2m losses in Q1-18

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02/11/2019 | 07:40pm EST

The firm attributed the loss to the continuous decline in demand

ALYAMAMAH STEEL1304

-4.07% 14.62 -0.62

Riyadh – Mubasher: Saudi Arabia-based Al Yamamah Steel Industries Co on Monday reported suffering losses during its first quarter ended on 31 December 2018, against posting a profit in Q1-17.

Al Yamamah Steel’s net losses after calculating Zakat and Tax amounted to SAR 30.18 million during Q1-18, against a profit of SAR 6.73 million in Q1-17, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm attributed the loss to the continuous decline in demand due to the current economic situation, the slowdown in implementing projects, and the fierce competition that dragged down sales in electricity and construction sectors.

It is worth noting that Al Yamamah Steel Industries’ fiscal year ends on 30 September.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Managers
NameTitle
Yousef Saeed Ba-Zaid Chief Executive Officer
Saad Ibrahim Abdulaziz Al-Mojil Chairman
Mohammad Baker Reda Abu Farhah Chief Financial Officer
Fayyad Ahmad Abdul Ghafour Manager-Information Technology
Raed bin Ibrahim Suleiman Al-Mudaiheem Non-Executive Director
Sector and Competitors
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