Riyadh – Mubasher: Al Samaani Factory for Metal Industries Company on Wednesday said that it posted SAR 5.54 million in net profits for the period ended on 30 December 2017, or in 13 months and 23 days. 

Net profits amounted to SAR 6.16 million, while net sales reached SAR 46.189 million during the same period, according to a statement to the Saudi Stock Exchange (Tadawul).

The Tadawul-listed firm’s net profits hit SAR 1.14 million in the third quarter of 2017.

In January, Al Samaani’s board of directors approved to add new production lines at a value of SAR 2 million after completing their technical studies, while the financial impact of the fresh lines is expected to appear in the financials of the Saudi Arabia-based company as of Q2-18.

Al Samaani’s stock fell 1.23%, closing Tuesday at SAR 63.61.