{"id":67842,"date":"2024-10-30T10:39:56","date_gmt":"2024-10-30T07:39:56","guid":{"rendered":"https:\/\/gulftech-news.com\/en\/?p=67842"},"modified":"2024-10-30T10:39:57","modified_gmt":"2024-10-30T07:39:57","slug":"amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024","status":"publish","type":"post","link":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/","title":{"rendered":"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024"},"content":{"rendered":"\n<p><strong><a href=\"https:\/\/amak.com.sa\/\">Financial performance underscores AMAK\u2019s<\/a><\/strong> effective capitalizing on favorable market trends and consistent delivery of value to shareholders, supporting the growth of Saudi Arabia\u2019s mining sector under Vision 2030.<\/p>\n\n\n\n<p>Almasane Alkobra Mining Co. (AMAK) reported robust financial results for the period ended Sep 2024, with net profit rising by 181% year-on-year (YoY) to SAR 137 million, compared to SAR 49 million in the same period of the last year.<\/p>\n\n\n\n<p>AMAK\u2019s current period growth is primarily attributed to a 108% YoY increase in gross profit, reaching SAR 198 million. This strong performance was driven by higher prices for copper, zinc, and gold, coupled with increased sales volumes of copper and zinc. <\/p>\n\n\n\n<p>The company also benefited from reduced financing costs and enhanced operational efficiencies, further strengthening its financial performance.<\/p>\n\n\n\n<p>Period ended 30 Sep 2024 Financial Highlights (SAR Million)<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Revenues: SAR 554 million, up 48% from SAR 373 million compared to the same period of the last year.<\/li>\n\n\n\n<li>Gross Income: SAR 198 million, an increase of 108% from SAR 95 million in the prior-year period.<\/li>\n\n\n\n<li>Operating Income: SAR 149 million, up 183% from SAR 53 million in the same period last year.<\/li>\n\n\n\n<li>Net Income: SAR 137 million, a 181% rise from SAR 49 million in the same period of last year.<\/li>\n\n\n\n<li>Earnings Per Share (EPS): SAR 1.55, up from SAR 0.55 in period ended 30 Sep 2024.<\/li>\n<\/ul>\n\n\n\n<p>AMAK\u2019s solid financial performance in current period ended 30 Sep 2024 builds on our outstanding results from the first nine months of the year and highlights the company\u2019s resilience and strategic focus on production enhancement and operational efficiency,\u201d said Geoffery Day, CEO of AMAK. \u201cWith our new growth strategy we are confident that 2024 will be a record year for AMAK.\u201d<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-2-1024x682.jpeg\" alt=\"\" class=\"wp-image-67844\" srcset=\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-2-1024x682.jpeg?v=1730273956 1024w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-2-300x200.jpeg?v=1730273956 300w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-2-768x511.jpeg?v=1730273956 768w, https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-2.jpeg?v=1730273956 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024<\/figcaption><\/figure>\n\n\n\n<p><strong>Strong Balance Sheet<\/strong><\/p>\n\n\n\n<p>As of the end of September 2024, AMAK\u2019s shareholders\u2019 equity (excluding minority interest) reached SAR 1.2 billion. This growth reflects the company\u2019s commitment to strengthening its financial foundation and consistently delivering value to shareholders.<\/p>\n\n\n\n<p><strong>Looking Ahead<\/strong><\/p>\n\n\n\n<p>AMAK\u2019s strong financial performance in both Q3 and first nine months of 2024 underscores the company\u2019s resilience and strategic emphasis on production growth and operational efficiency. Building on this momentum, AMAK recently unveiled a comprehensive growth strategy aimed at increasing production capacity and enhancing its presence in the mining industry. <\/p>\n\n\n\n<p>Central to this strategy is the expansion of its processing plant, which is expected to significantly boost output in the coming years.<\/p>\n\n\n\n<p>These initiatives, along with the appointment of new leadership, position AMAK to capitalize on favorable market trends, deliver long-term value to shareholders, and contribute to the broader development of Saudi Arabia\u2019s mining sector in alignment with the Kingdom\u2019s Vision 2030.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financial performance underscores AMAK\u2019s effective capitalizing on favorable market trends and consistent delivery of value to shareholders, supporting the growth of Saudi Arabia\u2019s mining sector under Vision 2030. Almasane Alkobra Mining Co. (AMAK) reported robust financial results for the period ended Sep 2024, with net profit rising by 181% year-on-year (YoY) to SAR 137 million, &hellip;<\/p>\n","protected":false},"author":2,"featured_media":67843,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[642],"tags":[842],"class_list":["post-67842","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tie-business","tag-amak"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024 - Gulf Tech News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024 - Gulf Tech News\" \/>\n<meta property=\"og:description\" content=\"Financial performance underscores AMAK\u2019s effective capitalizing on favorable market trends and consistent delivery of value to shareholders, supporting the growth of Saudi Arabia\u2019s mining sector under Vision 2030. Almasane Alkobra Mining Co. (AMAK) reported robust financial results for the period ended Sep 2024, with net profit rising by 181% year-on-year (YoY) to SAR 137 million, &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/\" \/>\n<meta property=\"og:site_name\" content=\"Gulf Tech News\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-30T07:39:56+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-30T07:39:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"852\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"bessan helmi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"bessan helmi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/\",\"url\":\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/\",\"name\":\"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024 - Gulf Tech News\",\"isPartOf\":{\"@id\":\"https:\/\/gulftech-news.com\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911\",\"datePublished\":\"2024-10-30T07:39:56+00:00\",\"dateModified\":\"2024-10-30T07:39:57+00:00\",\"author\":{\"@id\":\"https:\/\/gulftech-news.com\/en\/#\/schema\/person\/c033626e357b2f7e127eac0570ddc05c\"},\"breadcrumb\":{\"@id\":\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#primaryimage\",\"url\":\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911\",\"contentUrl\":\"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911\",\"width\":1280,\"height\":852,\"caption\":\"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/gulftech-news.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/gulftech-news.com\/en\/#website\",\"url\":\"https:\/\/gulftech-news.com\/en\/\",\"name\":\"Gulf Tech News\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/gulftech-news.com\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/gulftech-news.com\/en\/#\/schema\/person\/c033626e357b2f7e127eac0570ddc05c\",\"name\":\"bessan helmi\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/gulftech-news.com\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bb1e09a6f094e0fa605073926f8ad9eb228a8b0aacd381fda782c562612428cf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bb1e09a6f094e0fa605073926f8ad9eb228a8b0aacd381fda782c562612428cf?s=96&d=mm&r=g\",\"caption\":\"bessan helmi\"},\"url\":\"https:\/\/gulftech-news.com\/en\/author\/bessan-helmi\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024 - Gulf Tech News","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/","og_locale":"en_US","og_type":"article","og_title":"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024 - Gulf Tech News","og_description":"Financial performance underscores AMAK\u2019s effective capitalizing on favorable market trends and consistent delivery of value to shareholders, supporting the growth of Saudi Arabia\u2019s mining sector under Vision 2030. Almasane Alkobra Mining Co. (AMAK) reported robust financial results for the period ended Sep 2024, with net profit rising by 181% year-on-year (YoY) to SAR 137 million, &hellip;","og_url":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/","og_site_name":"Gulf Tech News","article_published_time":"2024-10-30T07:39:56+00:00","article_modified_time":"2024-10-30T07:39:57+00:00","og_image":[{"width":1280,"height":852,"url":"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911","type":"image\/jpeg"}],"author":"bessan helmi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"bessan helmi","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/","url":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/","name":"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024 - Gulf Tech News","isPartOf":{"@id":"https:\/\/gulftech-news.com\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#primaryimage"},"image":{"@id":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#primaryimage"},"thumbnailUrl":"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911","datePublished":"2024-10-30T07:39:56+00:00","dateModified":"2024-10-30T07:39:57+00:00","author":{"@id":"https:\/\/gulftech-news.com\/en\/#\/schema\/person\/c033626e357b2f7e127eac0570ddc05c"},"breadcrumb":{"@id":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#primaryimage","url":"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911","contentUrl":"https:\/\/gulftech-news.com\/en\/wp-content\/uploads\/2024\/10\/AMAK-.jpeg?v=1730273911","width":1280,"height":852,"caption":"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024"},{"@type":"BreadcrumbList","@id":"https:\/\/gulftech-news.com\/en\/2024\/10\/30\/amak-achieves-strong-growth-with-181-increase-in-net-profit-to-sar-137-million-in-ytd-sep-2024\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/gulftech-news.com\/en\/"},{"@type":"ListItem","position":2,"name":"AMAK Achieves Strong Growth with 181% Increase in Net Profit to SAR (137) Million in YTD SEP 2024"}]},{"@type":"WebSite","@id":"https:\/\/gulftech-news.com\/en\/#website","url":"https:\/\/gulftech-news.com\/en\/","name":"Gulf Tech News","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/gulftech-news.com\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/gulftech-news.com\/en\/#\/schema\/person\/c033626e357b2f7e127eac0570ddc05c","name":"bessan helmi","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/gulftech-news.com\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bb1e09a6f094e0fa605073926f8ad9eb228a8b0aacd381fda782c562612428cf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bb1e09a6f094e0fa605073926f8ad9eb228a8b0aacd381fda782c562612428cf?s=96&d=mm&r=g","caption":"bessan helmi"},"url":"https:\/\/gulftech-news.com\/en\/author\/bessan-helmi\/"}]}},"_links":{"self":[{"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/posts\/67842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/comments?post=67842"}],"version-history":[{"count":1,"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/posts\/67842\/revisions"}],"predecessor-version":[{"id":67845,"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/posts\/67842\/revisions\/67845"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/media\/67843"}],"wp:attachment":[{"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/media?parent=67842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/categories?post=67842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gulftech-news.com\/en\/wp-json\/wp\/v2\/tags?post=67842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}