The profits of Bena Steel Industries Company in the Kingdom of Saudi Arabia, which operates in the field of iron rolling services, manufacturing structural steel, iron tubes, presses and wagons, decreased to 5.2 million riyals at the end of the first half of 2023, compared to profits of 11 million riyals for the same period of the previous year.
Summary of Financial Results (Million)
Summary of Financial Results (Million)
Item | H1 2022 | H1 2023 | Change |
Revenues | 182.07 | 216.44 | 18.90% |
Gross income | 19.71 | 16.42 | -16.70% |
Operations income | 14.33 | 10.39 | -27.50% |
net income | 10.95 | 5.2 | -52.50% |
average number of shares | 5 | 5 | - |
Earnings per share (SAR) | 2.19 | 1.04 | -52.50% |
The reason for the decrease in profits during the current period compared to the same period of the previous year is due to the decrease in the gross profit due to the sharp decline in the global price of steel.