Saudi Arabia’s Al Yamamah Steel Industries Co. posted a sharp decline in net profit for the first nine months of fiscal 2025, ended June 30, with earnings down 37pct YoY to SAR 41.9 mln (USD 11 mln).
The company said the drop was driven by a 7.36pct fall in construction sector product prices amid intense competition and weaker demand, along with a 2.81pct rise in cost of sales.
Revenue for the period slipped 5pct YoY to SAR 1.474 bln (USD 392 mln).
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
