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FinancialNews


  • 13-04-13

    Saudi MAADEN reports 3% fall in Q1 income

    (MENAFN) The Saudi Arabian Mining Company (MAADEN) announced that during the first quarter, its net income attributed to the shareholders of the parent firm fell by 3 percent to USD63.72 million from USD65.58 million a year before, according to a statement on the Saudi bourse (Tadawul). The company attributed the decline to a drop in net income of gold division as a result of lower volume of gold ounces sold. It added that operating profit rose by 9 percent to USD97.31 million, from USD89.58 million. MAADEN's quarterly gross profit jumped by 11 percent, reaching USD145 million, compared with USD131.17 million in 2012's same period.

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