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FINANCIAL NEWS
Saudi Maaden’s earnings drop by 51 percent
19 Jul 2016
(MENAFN) Saudi Arabian Mining Co. (Maaden) posted a 51 percent drop in Q2 net profit, as sales revenue fell on low commodity prices.
Additionally, the firm posted a net profit of USD35.3mn in the three months to June 30, compared with a profit of USD71.95mn.
However, sales revenues dropped by 15 percent compared with the same period of last year, despite higher sales volumes of aluminum and gold.
The firm is a key leader in the kingdom’s plan to spread its economy away from hydrocarbons, which plans to have the mining sector contributes USD26bn to GDP by 2020.
More News
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
08 Jul 2025
BBK proudly launches the third edition of “Grow” and welcomes 20 Bahraini graduates
03 Jul 2025
BBK hosts executive leadership session on digital assets in collaboration with Rain
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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