Saudi Arabian Mining Company , known as Ma'aden, said on Sunday its second-quarter profit tumbled more than 90% on lower sales prices and higher expenses as it flagged a mixed outlook for its products.
, known as Ma'aden, said on Sunday its second-quarter profit tumbled more than 90% on lower sales prices and higher expenses as it flagged a mixed outlook for its products.
That missed analysts' average estimate of 577.6 million riyals in net profit for the second quarter, according to Refinitiv data.
The fall in profit was despite higher sales volumes for all products except ammonia, primary aluminium and flat rolled products, a 6% fall in cost of sales due to a decrease in raw material costs - partly offset by higher production costs, 17% lower selling, marketing and logistics expenses, higher income from deposits and a 164% rise in other non-operating income.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Former Pa. first lady Ellen Casey dies at 91U.S. Sen. Bob Casey Jr. said his mother died after a brief illness.
Les mer »
Dorothy S. Prisock, longtime teacher, union leader, and civic advocate, has died at 91She spent time in Philadelphia and South Carolina as a girl and was especially close to her grandparents. 'She was all about family,' her nephew said.
Les mer »
Black sheep leads flock of 91 sheep to freedomSometimes it just takes one black sheep of the family to lead the others astray, and that’s not just a metaphor for a herd 30 miles inland from the coast of Maine.
Les mer »
Saudi Arabia to send more oil to China despite crude supply cutSaudi Arabia is about to send more oil to China, even though it's slashed crude supply levels
Les mer »
Saudi names non-resident ambassador for occupied Palestinian territoriesIn a first, Saudi Arabia names a non-resident ambassador for the Occupied Palestinian Territories, giving insight into how diplomatic relations might shift between the Gulf kingdom and Israel
Les mer »
In Major Reversal, Gulf Moviegoers Are Now Traveling to Saudi Arabia to Watch Films Banned at HomeLess than 10 years ago, Saudis wanting to go to the cinema had to travel to neighbouring countries, but thanks to theaters having opened up across the Kingdom and local censors showing more leniency towards major Hollywood titles, Gulf film fans are now going the opposite direction.
Les mer »