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AMAK CEO Says Middle East Tensions Raised Costs, No Revenue Hit
Al Masane Al Kobra CEO said Middle East tensions raised freight costs. The disruptions had no material impact. He expects a stronger H2 after profit fell 26%.
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Geopolitical tensions across parts of the Middle East pushed up freight and logistics costs for Al Masane Al Kobra Mining Co. The disruptions had no material impact on operations or financial results, Chief Executive Geoffrey Day said.
Revenue fell 8% year-on-year in the first half of 2026, Day told Argaam. Sales volumes of copper, zinc, gold and silver all declined. Net profit for the period declined 26% to SAR 94.8 million from SAR 128.3 million a year earlier, according to data compiled by Argaam. Second-quarter net profit came in at SAR 34.7 million.