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Sunday, 7 May 2017

Saudi's Ma'aden posts 41.9 percent profit rise | Reuters

Saudi's Ma'aden posts 41.9 percent profit rise | Reuters:

"Saudi Arabian Mining Co (Ma'aden), the Gulf's largest miner, posted a 41.9 percent rise in first-quarter net profit on Sunday, beating analysts' forecasts as sales volumes rose and aluminum and gold prices climbed.

The company made a net profit of 275.6 million riyals ($73.5 million) in the three months to March 31, it said in a bourse statement. This compares with a net profit of 194.3 million riyals in the corresponding period of 2016.

The average estimate of three analysts polled by Reuters was for a quarterly net profit of 167.9 million riyals."



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