Oman’s Al Jazeera Steel Products Co. SAOG reported a decline in net profit for the first quarter of 2026, according to its unaudited financial results.
Net profit fell 19pct YoY to OMR 1.71 mln (USD 4.44 mln), compared with OMR 2.1 mln in the same period last year. Revenue also declined 5pct YoY to OMR 38.4 mln (USD 99.8 mln), down from OMR 40.32 mln in Q1 2025.
The company’s total expenses decreased by 4pct YoY to OMR 36.6 mln (USD 95 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
