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Ma’aden’s net profit fell 23.71% year on year to SAR 1.68 billion in the third quarter of 2026, and 22.66% compared with the previous quarter. The company attributed the annual decline to a 29.53% drop in gross profit, driven by higher costs of sales—particularly in phosphate—and the absence of sales from ammonia exports. Higher operating expenses, lower finance income, and increases in zakat, taxes, and concession fees also contributed. Despite an 11.28% rise in revenue to SAR 11.14 billion, operating profit fell 46.54% to SAR 1.57 billion.
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