Riyadh –  Al Masane Al Kobra Mining Company (Amak) posted a 77.02% year-on-year (YoY) jump in net profit to SAR 76.94 million during the first half (H1) of 2024, compared to SAR 43.46 million.

The revenues amounted to SAR 337.81 million in H1-24, marking an annual surge of 28.46% from SAR 262.96 million, according to the initial financial results.

Earnings per share (EPS) increased to SAR 0.87 as of 30 June 2024 from SAR 0.49 in the year-ago period.

Financials for Q2-24

In the second quarter (Q2) of 2024, the company’s net profits witnessed a 482.65% YoY leap to SAR 61.81 million, compared to SAR 10.60 million.

Revenues increased by 69.51% to SAR 203.31 million in Q2-24 from SAR 119.93 million in Q2-23.

Quarter-on-quarter (QoQ), the profits in Q2-24 widened by 308.72% from SAR 15.12 million in Q1-24, while the revenues enlarged by 51.16% from SAR 134.49 million.

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