Riyadh – Mubasher: Al Yamamah Steel Industries Company inked a contract with Al Sharif Group & KEC Limited Company to manufacture and supply electrical towers total amount of SAR 185.85 million.
The two firms penned the 10-month agreement on 22 October 2023, according to a bourse filing.
The contract will start reflecting on the listed company’s financial results in the second quarter (Q2) of the fiscal year (FY) that ended on 30 September 2024.
In the first half (H1) of FY22/23, Al Yamamah Steel turned to net losses after Zakat and tax valued at SAR 59.79 million, compared to net profits of SAR 69.17 million in H1-21/22.
Revenues declined by 6.98% year-on-year (YoY) to SAR 848.88 million as of 31 March 2023 from SAR 912.55 million.
