By Mohammed Idries
Riyadh-Mubasher: The industrial investment sector’s combined earnings for the second quarter of 2015 dropped 21% to SAR 345 million, compared with SAR 438 million a year earlier.
The sector’s earnings were mainly impacted by the 27% decline in Ma’aden’s profits to SAR 270 million.
The combined earnings for the six-month period ended 30 June fell by 49%, as Shaker’s profits plunged by SAR 294.9 million.
The sector’s H1 operating profit totalled SAR 1 billion, decreasing 31% compared with the same period of 2014. Saudi Paper recorded the biggest decline of 43% in operating profits. Meanwhile, Maadniyah’s operating profits climbed 30%.
Takween stock was the best performer in the industrial investment sector, soaring 61% since the beginning of 2015 and until 2 August. The stock rose from SAR 47.83 at the end of December 2014 to SAR 77.10 on 2 August.
Translated by Abdul Maguid Aboshahla
