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Al Jazeera Steel reports robust Q1 2024 profits

Al Jazeera Steel’s net income has shown consistent growth since the beginning of 2023, reflecting resilience and strategic management.

Al Jazeera Steel reports robust Q1 2024 profits

In a remarkable financial turnaround, Al Jazeera Steel Company, a prominent player in the iron pipe industry, has announced impressive profits for the first quarter of 2024. The company’s net income surged to 1.82 million Omani riyals, a substantial increase compared to the same period in 2023 when profits stood at 1.49 million riyals.

The financial highlights are as follows:

Despite a slight decline (5%) in revenues, Al Jazeera Steel maintained a solid position, with total revenues reaching 36.19 million Omani riyals during Q1 2024.

The company’s earnings per share rose by 22%, from 12 baisa in Q1 2023 to an impressive 15 baisa in Q1 2024.

Al Jazeera Steel’s net income has shown consistent growth since the beginning of 2023, reflecting resilience and strategic management.

Commenting on the impressive performance, CEO of Al Jazeera Steel, Ahmed Al-Mansoori, expressed confidence in the company's trajectory and emphasized a commitment to sustained growth and value creation for stakeholders. He attributed the success to the dedication and hard work of the entire Al Jazeera Steel team, whose collective efforts have propelled the company to new heights.

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SteelRadar Insight - Sayı 1 (Haziran 2024)

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