Shaker Group, a leading Saudi manufacturer and distributor of air conditioners and home appliances, said it has reached an agreement with leading Buy Now Pay Later (BNPL) company Cashew Payments to acquire a 40% stake in its Saudi unit - Cashew KSA.
Shaker Group, a leading Saudi manufacturer and distributor of air conditioners and home appliances, said it has reached an agreement with leading Buy Now Pay Later (BNPL) company Cashew Payments to acquire a 40% stake in its Saudi unit - Cashew KSA.
Shaker Group, a leading Saudi manufacturer and distributor of air conditioners and home appliances, said it has reached an agreement with leading Buy Now Pay Later (BNPL) company Cashew Payments to acquire a 40% stake in its Saudi unit - Cashew KSA.
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.
LG, Shaker to upgrade Saudi JV plant with innovative technology
RIYADH, 29 days ago LG Electronics (LG) and Al Hassan Ghazi Ibrahim Shaker Company (Shaker), a leading Saudi-based manufacturer and distributor of air-conditioners and home appliances, have announced plans to upgrade their air-conditioner production facility in Riyadh with innovative automation technology. Opening a new era in the local manufacturing industry, the LG-Shaker plant will deploy industrial robots and artificial intelligence (AI) technology to automate the production process and optimize operational efficiency. The adoption of cutting-edge automation technology will result in increased output and enable the plant to produce components that are now sourced, in part, from external providers.