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RIYADH: Saudi glass manufacturer Obeikan Glass Co. has reported an annual surge in profit of 903 percent profit in 2021
Profits hit SR173.6 million ($46.2 million), compared to SR17 million a year earlier, according to a bourse filing.
The profit hike was coupled with an increase in revenue of 77 percent year-on-year to SR463 million.
The firm, which recently joined the Saudi stock exchange, attributed the improved performance to an increase in sales volumes, as well as an increase in the selling prices of the company's products.