Saudi Arabian Mining Co (Ma'aden) posted a significant jump in second-quarter net profit on Tuesday, beating the forecasts of analysts.

The miner made a net profit of 370.8 million riyals ($98.9 million) in the three months to June 30, compared with 40.98 million riyals in the year-earlier period, it said in a bourse filing.

Four analysts polled by Reuters had expected, on average, a net profit for the period of 183.8 million riyals. - Reuters