Oman-based iron and steel pipe producer Al Jazeera Steel Company has achieved a successful financial performance in 2024, increasing its net profit by 73%. The company's net profit reached OMR 7.10 million (USD 18.4 million; 57 baisa - USD 0.15 per share). In the same period of 2023, net profit was OMR 4.10 million (USD 10.6 million; 33 baisa per share - USD 0.086).
The company's revenues also increased by 3% y-o-y to OMR 146.69 million (USD 380 million). Earnings per share increased from 33 baisa (USD 0.086) to 57 baisa (USD 0.15), while the number of shares remained stable at 124.90 million.
Al Jazeera Steel's impressive growth is directly linked to the increase in revenues and the efficiency of its operational processes. With its success in the iron and pipe sector, the company is not only strengthening its financial results, but also consolidating its competitive position in the region.
(Note: 1 OMR = USD 2.6)
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