Saudi: Almunajem Foods logs over $53.46mln net profits in 9M-23

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Riyadh – The net profits after Zakat and tax of Almunajem Foods Company reached SAR 200.60 million in the first nine months (9M) of 2023, an annual plunge of 26.60% from SAR 273.30 million.

The earnings per share (EPS) plummeted to SAR 3.34 in 9M-23 from SAR 4.56 in 9M-22, according to the estimated financial results.

Revenues hit SAR 2.48 billion during January-September 2023, marking an 11.41% year-on-year (YoY) growth from SAR 2.23 billion.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, the listed company posted 13.99% YoY higher net profits after Zakat and tax at SAR 61.10 million, compared to SAR 53.60 million.

The sales increased by 11.05% to SAR 810.90 million in the three-month period that ended on 30 September 2023, versus SAR 730.20 million a year earlier.

The net profits registered in Q3-23 rose by 6.08% from SAR 57.60 million in Q2-23, while the sales climbed by 4.98% from SAR 772.40 million.