The company’s net profit increased Saudi Arabian miner “Maaden” By 65.3% in the third quarter of 2022, to about 2.1 billion riyals, after zakat and taxes, compared to 1.27 billion riyals in the same quarter of 2021.
Maaden’s net profit after zakat and taxes decreased by 47.8% in the third quarter of 2022, compared to a net profit of about 4.03 billion riyals in the second quarter of 2022.
Ma’aden said in a statement on “Tadawul Saudi Arabia” today Tuesday that the increase in quarterly profits on an annual basis is due to several factors, namely the increase in average sales prices achieved for all products. except gold, the increase in quantities sold for all products except alumina, and the increase in deposit proceeds by 7.5 times due to the increase in investments and the rate of return on deposits.
He adds that the increase is also due to an increase in other non-operating revenues, net of 8.2 times for a one-off income from insurance claims equal to 195 million riyals, against a limited fire in the ammonia plant. of Ma ‘aden Phosphate Company in the second quarter of 2021, as well as a 22% decrease in technical services expenses.
During the first nine months of 2022, Maaden’s net profit after zakat and taxes increased by 164.6% to about 8.3 billion riyals, compared to about 3.14 billion riyals in the same period in 2021. .
