Omani steelmaker Al Jazeera Steel Products Co. SAOG reported a strong 60pct YoY jump in net profit for the first half of 2025, according to its unaudited financial results.
Net profit rose to OMR 4.12 mln (USD 10.6 mln) in H1 2025, up from OMR 2.56 mln in the same period last year. Revenue also saw a solid 9pct increase, reaching OMR 76.56 mln (USD 198.4 mln), compared to OMR 69.9 mln in H1 2024.
Operating expenses grew by 7pct YoY to OMR 72.4 mln (USD 187.6 mln) during the 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
