Saudi Arabia’s Al Yamamah Steel Industries Co. reported a significant drop in net profit for the first half of fiscal year 2025, ended March 31. Net profit fell by nearly 56pct YoY to SAR 26.54 mln (USD 7 mln), driven by weaker performance in the construction sector.
The company cited an 8.7pct decline in average selling prices and a 3.6pct rise in cost of sales, both attributed to intense competition and softer demand. Revenue also fell 11.5pct YoY to SAR 997 mln (USD 266 mln), primarily due to lower sales volumes.
Al Yamamah Steel specializes in the manufacturing and sale of a variety of products including welded tubes, sheets, rebars, and three-dimensional space structures, primarily serving the buildings and infrastructure sector. The company also produces galvanized steel lighting and distribution poles, high mast structures, and galvanized steel lattice towers for the electrical and distribution industry. Its production facilities are strategically located in Jeddah, Dammam, and Yanbu.
1 USD / 3.75 SAR