Amak registers 181% higher net profits in 9M-24 - Mubasher Info

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Riyadh – Mubasher: Al Masane Al Kobra Mining Company (Amak)logged net profits valued at SAR 136.69 million in the first nine months (9M) of 2024, up 181.01% year-on-year (YoY) from SAR 48.64 million.

Revenues amounted to SAR 553.76 million in 9M-24, an annual leap of 48.40% from SAR 373.14 million, according to the initial financial results.

The earnings per share (EPS) climbed to SAR 1.55 as of 30 September 2024 from SAR 0.55 a year earlier.

Financials for Q3-24

In the third quarter (Q3) of 2024, Amak posted 1,053% higher net profits at SAR 59.75 million, compared to SAR 5.17 million a year earlier.

The company’s revenues witnessed a 95.99% YoY hike to SAR 215.95 million in July-September 2024, compared to SAR 110.18 million in Q3-23.

Quarterly, the Q3-24 net profits declined by 3.34% from SAR 61.81 million in Q2-24, while the revenues increased by 6.21% from SAR 203.31 million.

Source: Mubasher Source: {{details.article.source}}