In an interview with CNBC Arabia, CEO of the Saudi Wire Union, Nabil Al-Amir, indicated that the reasons behind the company’s increase in profits in the first half of this year on an annual basis are due to the growth in sales volume and high profit margins.
He pointed out that the company’s strategy aims to neutralize the negative impact of the construction sector on the company’s performance by focusing on other industrial and consumer products, expecting the effects of this strategy to appear this year.
He stated that the indications are positive regarding the ongoing discussions with the Emirati “A-1 Fence DMCC” company to acquire a stake in the ownership of the Arab “A-1 Fence” company for industry, with the aim of establishing a factory in Saudi Arabia.
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