RIYADH: Al Yamamah Steel Industries Co. reported a 41 percent drop in profit for the first quarter of 2022.
The company registered a net profit of SR35 million ($9 million) for the first three months of the year, from a profit of SR60 million in the same period a year earlier, according to a bourse filing.
The decrease in net profit resulted from higher raw materials prices and lower sales in the construction segment.