Al-Babtain sees better Q1 margins on high-yield contracts: CFO

23/04/2015 Argaam
Al-Babtain Power and Telecommunication Co. has recorded higher profit margins in the first quarter as it secured high-yield contracts, Mohamed Al-Toukhy, the company’s chief financial officer told CNBC Arabia.
 
The manufacturer of outdoor lighting products and structural steel had also benefited from buying raw materials at lower prices, he added.
 
Despite increased production costs stemming from Al-Babtain France, the company turned a SAR 26.3 million profit during the quarter, marking an 18 percent year-on-year 18 percent jump, according to data published by Argaam.
 
Al-Toukhy added that the company is currently in the process of implementing a 30-percent layoff aimed at enhancing its operational performance.

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