Al Hammadi’s profits hit $16.53mln in Q1-22 initial financials

Riyadh – Al Hammadi Company for Development and Investment has logged net profits after Zakat and tax worth SAR 61.96 million in the January-March 2022 period, an annual jump of 74.33% from SAR 35.54 million.

Revenues totalled SAR 250.89 million during the first quarter (Q1) of 2022, higher by 10.87% than SAR 226.29 million in the year-ago period, according to a bourse disclosure on Thursday.

Meanwhile, the earnings per share (EPS) increased to SAR 0.52 in Q1-22 from SAR 0.30 in Q1-21.

On a quarterly basis, the company's revenues in Q1-22 dropped by 10.96% from SAR 281.78 million in Q4-21, while the net profits leaped by 480.69% from SAR 10.67 million.

In 2021, Al Hammadi generated SAR 90.09 million in net profit after Zakat and tax, an annual decline of 31.13% from SAR 130.83 million.

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