Omani steel manufacturer Al Jazeera Steel Products Co. SAOG posted a 16pct YoY increase in net profit for the first quarter of 2025, according to its unaudited financial results.
Net profit rose to OMR 2.1 mln (USD 5.44 mln) for the January-March period, up from OMR 1.81 mln in the same quarter last year.
Revenue climbed 11pct YoY to OMR 40.3 mln (USD 104.4 mln), compared to OMR 36.1 mln in Q1 2024. Operating expenses also grew by 11pct YoY, reaching OMR 38.2 mln (USD 98.9 mln).
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