Riyadh – Mubasher: Savola Group posted net profits after Zakat and tax worth SAR 524.80 million in the first half (H1) of 2023, marking an 8.29% rise from SAR 484.60 million in H1-22.
Revenues declined by 3.27% year-on-year (YoY) to SAR 13.90 billion as of 30 June 2023 from SAR 14.37 billion, according to the interim consolidated financial results.
In the first six months (6M) of 2023, the earnings per share (EPS) stood at SAR 0.99, up from SAR 0.91 in the year-ago period.
Income Statements for Q2-23
The Saudi firm recorded a net profit worth SAR 132 million during the second quarter (Q2) of 2023, an annual plunge of 38.26% from SAR 213.80 million.
Savola Group generated revenues valued at SAR 6.09 billion in the April-June 2023 period, down 11.54% YoY from SAR 6.88 billion.
On a quarterly basis, the profits in Q2-23 plummeted by 66.39% from SAR 392.70 million as of 31 March 2023, while the revenues shrank by 22.02% from SAR 7.81 billion.
