AMAK’s 2024 Profit Jumps 226% to SAR 178 Million

Almasane Alkobra Mining Co. (AMAK) announced on Monday that its net profit increased by 226% to SAR 178 million by the end of 2024, compared to SAR 55 million last year, following the announcement today of the preliminary financial results for the duration ending Dec. 31, 2024.

The operational profit increased by 247% to SAR 222 million by the end of 2024, compared to SAR 64 million last year.

The equity (after excluding non-controlling interests) in the current year increased by 3% to SAR 1.25 billion by the end of 2024, compared to SAR 1.22 billion last year.

The profits per share in the current year amounted to SAR 2.01, compared to SAR 0.73 last year.

The Company stated in a statement today on “Tadawul” that the reason for the increase in revenue during this year by an amount of SAR 293 million (60%), compared to the previous year is due to the increase in the prices and quantities sold for copper, zinc and gold.