17
May
10:39
Renewable energy investments boost Al Yamamah's earnings
Massive investment in the renewable energy sector in Saudi Arabia, driven by robust demand pull, has helped Al Yamamah to improve revenue, and, combined with cost reductions, the company has turned to profit.
Al Yamamah Steel reported a 28.4% on-year increase in revenue to SAR 496.9 million ($132.5m) for the second fiscal quarter ended 31 March 2024, while gross profit soared 867.3% to SAR 68.3m from SAR 7m a year earlier.
The significant increase in gross profit…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous