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FinancialNews


  • 17-07-12

    Saudi Maaden posts 103% hike in Q2 net income

    (MENAFN) Saudi Arabian Mining Company (Maaden) stated that second-quarter net income soared 103 percent from 2011's USD16.8 million to USD34.12 million, reported Arab News. The company said that gross profit during the period reached USD90.64 million, recording a 112-percent hike from the USD42.65 million actual gross profit posted in last year's same period. Moreover, operating income surged 243 percent to USD65.84 million, up from USD19.19 million a year ago. It is worth noting that in 2012's first quarter, Maaden posted a USD65.58 million actual net income.

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