Saudi Maaden net profit down 83.5 percent in Q3

19 Oct 2015

(MENAFN) The Gulf’s biggest miner Saudi Arabian Mining Co. (Maaden) announced recording a drop of its July-September period net profit of 83.5 percent.

The mining giant logged a net profit of USD21.3 million in the third-quarter period of 2015 compared to USD129.3 million registered during the same quarter of last year.

The results were much lower than what analysts previously predicted, as they saw the firm making a quarterly profit between USD55.67 million and USD70.59 million.

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