Riyadh – Mubasher: The net profits after Zakat and tax Savola Group plunged by 75.64% year-on-year (YoY) to SAR 221.9 million in 2021, compared to SAR 910.8 million, according to the company's interim financials for the period ended on 31 December.

The company's revenues rose by 13.63% to SAR 24.66 billion in 2021 from SAR 21.7 billion in the earlier year.

The earnings per share (EPS) settled at SAR 0.42 last year, versus SAR 1.71 in 2020.

During the fourth quarter (Q4) of 2021, the company logged net losses of SAR 254.4 million, against net profits of SAR 44.7 million in the year-ago period.

Meanwhile, the company's board has recommended a cash dividend distribution of SAR 106.796 million for 2021.

It is noteworthy to mention that during the first nine months (9M) of 2021, the company reported SAR 476.2 million in net profits after Zakat and tax, down by 45% year-on-year (YoY) from SAR 866.1 million.

Source: Mubasher

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