The profits of the National Iron and Steel Company, which works in the production and manufacture of iron blocks and reinforcing steel, rose to 9.9 million riyals by the end of 2024, compared to profits of 4.2 million riyals achieved during the same period in 2023.
| Item | 2023 | 2024 | Change |
|---|---|---|---|
| Revenue | 370.11 | 553.31 | 49.5 % |
| Net income | 4.24 | 9.87 | 132.5 % |
The company said that the reason for the increase in profits during the current period compared to the same period of the previous year is due to:
– Increase in sales in 2024 as a result of an increase in the volume of demand for iron sales.
– A significant improvement in the movement of the construction sector and the expansion of the customer base in the market compared to the previous year 2023 despite the increase in operating costs (production inputs) for the year 2024 compared to the year 2023.
