Revenues of the Saudi listed industrial investment firms grew by 29 percent to SR24 billion in 2014 compared to SR18.5 billion in 2013, according to a financial report.

Meanwhile, net profits of the sector dropped by 7.3 percent to SR2.9 billion compared to SR3.11 billion in the comparable periods, Al-Hayat daily said in a report.
The number of listed industrial investment firms stands at 14 with their market capitalization at SR72 billion, or 4 percent of the Saudi market value. Capitals of the sector reached SR17.7 billion.
Saudi Arabian Mining Company (Maaden) was the biggest in terms of capital, which stood at SR11.68 billion, followed by the Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) at SR1.2 billion, Abdullatif Industrial Investment Company at SR812.5 million, whereas the Saudi Industrial Exports Company has the least capital at SR108 million, the report said.
Maaden topped the list of the biggest profit-making firms after having achieved SR1.35 billion in 2014 compared to SR1.68 billion, or a decrease of 19.3 percent. The company attributed profit fall to a number of reasons, including increase of expenses of sales, marketing and exploration and other technical services, the report said.
On the other hand, profits of Al-Hassan Ghazi Ibrahim Shakir Company rose by 249 percent to SR437 million in 2014 compared to SR125 million in 2013, according to the report.
Meanwhile, profits of SPIMACO grew by 19 percent to SR317 million in 2014 compared to SR267 million in 2013, the growth which was attributed to the increased sales in the year, the report said.
Profits of Saudi Chemical Company fell by 5.65 percent to SR284 million in 2014 compared to SR301 million in 2013.
Similarly, net profits of Abdullatif Industrial Investment Company dropped by 24.8 percent to SR200.4 million in 2014 compared to SR267 million in 2013. The company attributed the profit fall to the sales fall from SR1.35 billion to SR1.3 billion. Likewise, profits of Astra Industrial Group (AIG) fell by 57 percent to SR109 million in 2014 compared to SR253 million in 2013. The company attributed the profit fall to decrease in profit margins of the iron and steel sector, the report said.
Profits of the National Glass Industries Company registered record profits of SR61.5 million in 2014 compared to SR44.9 million in the previous year, or an increase of 37 percent, the report said.

Source: arabnews