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Saudi Arabia targets energy reduction worth $6 6bn by 2030, says CEO arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
RIYADH: Al Hassan Ghazi Ibrahim Shaker Co. (Shaker), a Saudi importer, manufacturer and distributor of air conditioners (ACs) and home appliances, has reported that revenue in the first three months of 2021 grew 30.5 percent year-on-year to SR288.3 million ($76.88 million), resulting in a net profit of SR4.5 million for the quarter.
The quarterly rebound is in contrast to a net loss of SR3.3 million in the same period last year.
Mohammed Ibrahim Abunayyan, CEO of Shaker, said in a press statement: “During the first quarter our team continued to demonstrate flexibility to operate in a challenging environment and deliver strong sales and earnings. At the beginning of the year, we rolled out our 2021-2023 strategy and we are pleased to already see the results of our growth plan.
Shaker swings to Q1 net profit, revenue grows 30.5pc
RIYADH, 22 days ago Al Hassan Ghazi Ibrahim Shaker Company (Shaker), a leading Saudi-based manufacturer and distributor of air-conditioners and home appliances, has registered a net profit of SR4.5 million ($1.2 million) for the first three months, compared to a net loss of SR3.3 million ($879,522) last year. Announcing its financial results for the three-month period ended March 31, Shaker said it has achieved revenue of SR288.3 million, growing by 30.5% compared to Q1 last year and by 46.7% compared to the previous quarter. Also its gross profit of SR57.6 million increased by 16.8% year-on-year. The third consecutive profitable quarter was mainly due to Shaker s strong and sustained growth in revenues in addition to the management s ongoing optimization and cost saving measures, a focus on innovation, and the success of the company’s product portfolio strategy.
Engie hands over second energy efficiency project to Tarshid
RIYADH, 2 hours, 35 minutes ago Engie, a French multinational utility company, has handed over its second energy efficiency project - Medical City of King Saud University - to Saudi national energy services company (Tarshid). The MCKSU Project was awarded by Tarshid to Engie in December 2019 and was officially handed over in December last year. After concluding a detailed audit of the facilities, Engie has successfully completed the implementation of 11 energy savings measures to reduce energy usage and guarantee energy efficiency for the Medical City of King Saud University (MCKSU) in Riyadh by over 31%, equivalent to 43 GWh per year, for 10 years.