Oman’s Al Jazeera Steel Products Co. SAOG reported a decline in net profit for the first half of 2026, according to its unaudited financial results.
The company’s net profit fell 6pct YoY to OMR 3.88 mln (USD 10 mln) from OMR 4.12 mln in the corresponding period of 2025. Sales revenue also edged down 1pct to OMR 75.6 mln (USD 196.4 mln), compared with OMR 76.56 mln a year earlier.
Meanwhile, total expenses declined 1pct YoY to OMR 71.72 mln (USD 186.3 mln) during the six-month period.
Al Jazeera Steel Products Co. SAOG is a leading manufacturer of tube and structural steel in the Middle East. The company’s facility produces tubular products, merchant sections, and rebars, with four tube-making lines having a total capacity of 300,000 tons per annum. Additionally, the merchant bar mill has a capacity of 300,000 tons per annum. In addition to serving its domestic market, the company exports its products to 25 countries worldwide, including the USA, Canada, Australia, Germany, and other European Union countries.
1 USD / 0.38 OMR