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Binaa's H1 Profits Rise 772 Percent
Binaa Steel Industries Company announced its financial results for the first half of 2026, achieving a record-breaking growth in profits of 772%, with net profit reaching 8.56 million SAR compared to 980,600 SAR in the same period of the previous year. The main reason for this increase is the expansion in revenues from structural steel and steel coil sectors, which positively impacted profit margins and operational efficiency. The company recorded a 24.26% increase in sales and revenues, amounting to 223.64 million SAR, with earnings per share rising to 1.43 SAR, and shareholders’ equity increasing by 9.77% to 97.79 million SAR, strengthening its financial position.
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