Oman-based steelmaker Al Jazeera Steel Products Company (Al Jazeera) has announced its financial results for the first half of the current year, registering a net profit of OMR 2.03 million ($5.27 million) for the given period, compared to a net profit of OMR 2.85 million recorded in the same period of 2016. In the January-June period this year, sales revenues of the company increased by 30.5 percent year on year to OMR 46.09 million ($119.81 million). The company recorded an operating profit of OMR 2.59 million ($6.73 million) in the given period, down 29.9 percent year on year.
In the first half of the current year, Al Jazeera produced 200,464 mt of finished steel, rising by nine percent, while the company’s finished steel sales increased by seven percent to 196,095 mt, both year on year.