Ma’aden Q1 profits jump 108% y-o-y on higher sales and reduced investment

By James Sean Dickson
Published: Friday, 17 April 2015

A leap in profits for Ma’aden is not solely down to higher sales volumes and prices – the near completion of its Wa’ad Al-Shamal phosphate project is likely to be the reason for lower investment expenditure, which helped improve the company’s balance sheet.

The Saudi Arabian Mining Co. (Ma’aden) has announced a net profit of Saudi riyal (SR) 261m ($69.6m*) for Q1 2015, up 108% year-on-year (y-o-y).

Ma’aden said that the jump in profit was due to an increase in both sales...

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