Riyadh – Ladun Investment Company was awarded a project deal worth SAR 348.48 million through its unit Built Industrial Company on 14 January 2024.

Presidency of State Security will team with the subsidiary to implement architectural, electrical, and mechanical works for a security building at the Naif Security Complex in Riyadh.

The two parties are expected to sign the agreement on 14 February 2024, according to a bourse filing.

Earlier this month, the Royal Commission for Jubail and Yanbu (RCJY) awarded Built Industrial a project contract valued at SAR 185.38 million.

In the January-June 2023 period, the Tadawul-listed firm recorded 143.73% year-on-year (YoY) higher net profits after Zakat and tax at SAR 73.14 million, compared to SAR 30.01 million.

Revenues hiked by 26.90% to SAR 652.13 million in the first half (H1) of 2023 from SAR 513.89 million a year earlier, while the earnings per share (EPS) increased to SAR 0.15 from SAR 0.06.

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