Al Jazeera Steel Company has announced a notable rise in its financial performance for the first nine months of 2024, with net income soaring by 62%. The company’s net profit reached OMR 3.91 million, compared to OMR 2.41 million during the same period in 2023.
Revenue figures also saw a positive increase, growing by 2% from OMR 106.47 million in September 2023 to OMR 108.35 million in September 2024. This growth in revenue reflects the company’s continued strength in the iron pipes industry, where demand remains strong despite market fluctuations.
The company's earnings per share (EPS) also saw a substantial increase, rising from 19 baisa per share in 2023 to 31 baisa per share in 2024. This 62% growth in EPS highlights the effectiveness of Al Jazeera Steel’s operational strategies and its ability to generate higher returns for shareholders.
With a steady average of 124.90 million shares outstanding throughout the year, Al Jazeera Steel's strong financial performance positions it well for sustained growth moving forward, reinforcing its solid presence in the regional steel industry.
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