The profits of Watani Iron and Steel Company (Watani Steel), which works in the production and manufacture of billet and rebar, rose to 3.4 million riyals by the end of the first half of 2024, compared to profits of 1.2 million riyals in the same period of the previous year.
| Item | 6 months 2023 | 6 months 2024 | Change |
|---|---|---|---|
| Revenue | 159.79 | 274.00 | 71.5 % |
| Net Income | 1.23 | 3.41 | 176.6 % |
The company said that the reason for the increase in profits in the current period compared to the same period of the previous year is due to:
– The increase in revenues is due to the increase in the quantity of sales and the relative increase in the selling price of the final product.
– The increase in other revenues
