Riyadh – Mubasher: Al Yamamah Steel Industries Company has recorded net profits after Zakat and tax worth SAR 69.17 million during the first six months (6M) of fiscal year (FY) 2021/2022, an annual plunge of 32.63% from SAR 102.68 million.
In the October 2021-March 2022 period, revenues increased by 2.77% to SAR 912.55 million from SAR 887.89 million in the same half of the previous FY, according to the initial financial results.
Meanwhile, the earnings per share (EPS) stood at SAR 1.36 in the first half (H1) of FY21/22, lower than SAR 2.02 during the same period a year earlier.
During the second quarter (Q2) that ended on 31 March 2022, Al Yamamah generated SAR 35.16 million in net profit after Zakat and tax, a year-on-year (YoY) plunge of 41.42% from SAR 60.02 million.
Sales declined by 1.04% YoY to SAR 448.31 million in January-March 2022 from SAR 453.02 million.
On a quarterly basis, the net profits in Q2-21/22 were 3.38% higher than SAR 34.01 million in Q1-21/22 which ended in December 2021, while the sales shrank by 3.43% from SAR 464.21 million.
In a separate bourse disclosure, the company announced a cash dividend of SAR 0.75 per share for H1 that ended in March 2022.
The Saudi listed firm will pay a total amount of SAR 38.10 million, representing 7.50% of the capital, for 50.80 million eligible shares.
The eligibility and distribution dates will be on 16 and 29 June, respectively.
During FY that ended on 30 September 2021, Al Yamamah Steel reported net profits after Zakat and tax worth SAR 207.83 million, an annual hike of 310.28% from SAR 50.65 million.
