Alujain has released its 4Q16 financial results, showing a net profit of SAR35.75mn (30.14% Y-o-Y, -1.13% Q-o-Q). Gross profit was reported at SAR106.39mn (+92.03% Y-o-Y, +2.42% Q-o-Q), while operating profit came in at SAR83.43mn (+72.28% Y-o-Y, -2.58% Q-o-Q). Revenues increased 10.18% Y-o-Y to SAR441.61mn. The company attributed the Y-o-Y improvement in performance to the: i) increase in volumes and prices; ii) lower financial charges; and iii) lower losses from JVs. The company also noted that the SG&A expenses were slightly higher Y-o-Y. Earnings slumped Q-o-Q on the back of an increase in SG&A, which was not offset by the better gross margins. (Tadawul)