Sales of the listed industrial investment firms grew by 5.4 percent to SR18.57 billion in 2013 compared to SR17.62 billion in 2012, local media said.
Similarly, net profits of the industrial firms increased by 16.3 percent to reach SR3.11 billion by the end of 2013 compared to SR2.68 billion in 2012, according to data filed by Al-Hayat daily.
The number of listed industrial investment firms stands at 14 with their market capitalization at SR62.7 billion, or 3.3 percent of the Saudi market value. Capitals of the sector reached SR17.7 billion.
Saudi Arabian Mining Company (Maaden) topped the list of the biggest profit-making firms after having increased its profits by 54.21 percent to SR1.68 billion in 2013 compared to SR1.09 billion in the previous year. Its sales rose by 8.4 percent to SR6.05 billion compared to SR5.57 billion in 2012, the report said.
Meanwhile, profits of Saudi Chemical Company grew by 3.44 percent to SR301 million in 2013 compared to SR291 million in the previous year. The company’s sales increased by 14 percent to SR2.78 billion in 2013 compared to SR2 billion, according to the report.
Abdullatif Industrial Investment Company was the third largest profit-making firms in the sector after having increased its profits by 1.2 percent to SR266.83 million in 2013 compared to SR263.68 million in 2012.
Likewise, profits of the Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) grew by 14.7 percent to SR266.8 million in 2013 compared to SR232.6 million in 2012 on the back of sales increase by 10 percent to SR1.30 billion compared to SR1.18 billion in the previous year, the report said.
Meanwhile, Astra Industrial Group (AIG) has increased sales by 18.4 percent to SR1.77 billion compared to SR1.50 billion and, accordingly, its profits grew by 4.31 percent to SR253.14 million in 2013 compared to SR242.67 million in 2012. Profits of the National Glass Industries Company grew by 2.98 percent to SR44.9 million in 2013 compared to SR43.6 million in the previous year, the report said.
On the other hand, profits of Al-Hassan Ghazi Ibrahim Shakir Company fell by 33.34 percent to SR125 million in 2013 compared to SR187.64 million in 2012, according to the report.