The profits of the “Arab Aluminum” company increased by 81% last year, to reach 13.7 million pounds, compared to a net profit of 7.5 million pounds in the corresponding year 2019.
Sales decreased to 280.3 million pounds during the period from January to 31 December last, compared to total sales of 301.3 million pounds in the comparative period.
Earlier, “Tazar General Trading” company raised its ownership in the capital of the “Arab Aluminum” company from 4.7% to 10.17%.
Tazar Trading bought about 305.35 thousand shares of Arab Aluminum, raising its share in the company from 4.7% to 10.17%.
It added that the total value of the deal amounted to 8.89 million pounds, with an average purchase price of 28.77 pounds per share.
The shares of groups linked to shareholders are 26.1 percent.
Arab Aluminum achieved, during the first half of 2020, a net profit of 3.912 million pounds during the period ending last June, compared to 4.287 million pounds during the same period of the previous year.
The company’s revenues decreased during the first half of 2020 to reach 123.498 million pounds compared to 148.583 million pounds, during the same period of the previous year.
The article “Arab Aluminum” wins 13.7 million pounds during 2020, with a growth of 81%. It was written in the Al-Borsa newspaper.