Saudi Arabia’s Astra Industrial posts 48% rise in quarterly profit

  • 5/16/2022
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RIYADH: Saudi Arabia’s Astra Industrial Group made higher profits of SR74.5 million ($20 million) in the previous quarter, after growth in sales in its pharmaceuticals and specialty chemicals units. This is up 48 percent, from SR51 million in the same quarter a year ago, according to a bourse filing. Revenue increased by 6.7 percent during the quarter, to SR634 million, which the group attributed to higher sales, as well as lower provisions for impairment losses. Riyadh-listed Astra Industrial is a conglomerate of various sector companies, engaged in pharmaceuticals, specialty chemicals, power and steel, and mining.

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