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Al Samaani moves to profits in H1

Al Samaani moves to profits in H1
Al Samaani Factory's profit margins rose in H1-20
ALSAMAANI
9504
-0.38% 159.00 -0.60

Riyadh – Mubasher: Al Samaani Factory for Metal Industries Company swung to net profits of SAR 1.22 million during the first half (H1) of 2020, against net losses of SAR 622,000 in the same period a year earlier.

The turn to profits was supported by a 12% growth in revenue which reached SAR 21.1 million in the January-June period, compared to SAR 18.8 million in the year-ago period, according to a statement to the Saudi Stock Exchange (Tadawul) on Thursday.

Meanwhile, profit margins rose whereas selling and marketing as well as general and administrative expenses slumped.