Riyadh – Mubasher: Al Yamamah Steel Industries Company turned profitable in the quarter ended on 31 December 2020, achieving net earnings of SAR 42.67 million, versus net losses worth SAR 7.58 million in the prior-year period.

The growing quarterly profits were helped by higher sales as selling prices of products in the construction sector rose by 13%, according to a stock exchange disclosure on Monday.

Meanwhile, the costs of raw materials in the construction and electricity sectors decreased by 6% and 8.1%, respectively.

Revenue for the September-December period of the last year totalled SAR 434.9 million, 7.3% higher than SAR 405.39 million in the corresponding period a year earlier.