By Mohamed Idris

Riyadh-Mubasher: Astra Industrial Group has achieved growth in sales and total assets in the last five years, while net profits remarkably slipped, according to data compiled by Mubasher.

The group is planning a capital increase for the first time since its debut in 2008.

Astra’s board of directors previously proposed an increase in capital by 8% to SAR 800 million from SAR 741 million, to be financed from retained earnings. The capital hike will be effected through 5-for-63 bonus share distribution, thus raising the total number of shares to 80 million.

According to the company, the capital raise will boost its financial position.

In the last five years, the group’s total sales rose to SAR 1919 million from SAR 1121 million, with CAGR of 14%.

Meanwhile, net profits fell to SAR 109 million from SAR 259 million. Total assets increased to SAR 3.729 billion in 2014 from SAR 2.889 billion in 2010, with 7% CAGR.

Translated by Sayed Abdel Rahman