Riyadh –  Almunajem Foods Company registered net profits after Zakat and tax worth SAR 273.30 million in the first nine months (9M) of 2022, an annual hike of 127.56% from SAR 120.10 million.

Revenues enlarged by 17.56% to SAR 2.23 billion during January-September 2022, compared to SAR 1.89 billion in the year-ago period, according to the interim financial results.

Additionally, the earnings per share (EPS) jumped to SAR 4.56 in 9M-22 from SAR 2 in 9M-21.

During the third quarter (Q3) of 2022, the firm generated SAR 53.60 million in net profit after Zakat and tax, up 1.71% year-on-year (YoY) from SAR 52.70 million.

The sales grew by 11.48% to SAR 730.20 million in Q3-22 from SAR 655 million in Q3-21.

On a quarterly basis, the net profits after Zakat and tax in Q3-22 retreated by 56.10% from SAR 122.10 million in Q2-22, whereas the revenues rose by 2.48% from SAR 712.50 million.

In the first half (H1) of 2022, the net profit after Zakat and tax of Almunajem Foods reached SAR 219.60 million, higher by 225.33% YoY than SAR 67.50 million.

Last August, the Saudi company paid SAR 75 million as cash dividends for H1-22.

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