Riyadh –  Ayyan Investment Company posted a 79.84% year-on-year (YoY) plunge in net profit after Zakat and tax to SAR 1.96 million in the first half (H1) of 2022, versus SAR 9.76 million.

Revenues declined by 1.05% to SAR 141.45 million during the first six months (6M) of 2022, compared to SAR 142.96 million in the year-ago period, according to the interim financial results.

The earnings per share (EPS) stood at SAR 0.02 in H1-22, lower than SAR 0.11 in H1-21.

During the second quarter (Q2) of 2022, the company turned to net losses after Zakat and tax worth SAR 11.64 million, against net profits after Zakat and tax of SAR 1.24 million in Q2-21.

Meanwhile, the Q2-22 revenues fell by 6.49% YoY to SAR 65.86 million from SAR 70.42 million.

In the January-March 2022 period, the net profits after Zakat and tax of Ayyan Investment jumped by 59.79% YoY to SAR 13.61 million from SAR 8.52 million.

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