Riyadh: Almunajem Foods Company logged net profits after Zakat and tax worth SAR 290.20 million in 2022, a 74.71% leap from SAR 166.10 million in 2021.

Revenues hit SAR 2.97 billion as of 31 December 2022, up 15.58% year-on-year (YoY) from SAR 2.57 billion, according to the income statements.

Meanwhile, the earnings per share (EPS) increased to SAR 4.84 last year from SAR 3.10 in 2021.

Income Statements for Q4-22

During the fourth quarter (Q4) of 2022, the Saudi firm posted 63.26% lower net profits after Zakat and tax at SAR 16.90 million, versus SAR 46 million in Q4-21.

The revenues grew by 10.05% YoY to SAR 747.80 million in Q4-22 from SAR 679.50 million.

On a quarterly basis, the Q4-22 net profits after Zakat and tax plummeted by 68.47% from SAR 53.60 million in Q3-22, while the revenues went up by 2.41% from SAR 730.20 million.

Dividends for H2-22

The company’s board proposed, on 23 March 2023, cash dividends amounting to SAR 60 million for the second half (H2) of 2022.

A total of 60 million eligible shares will receive a dividend of SAR 1 per share, equivalent to 10% of the share nominal value.

Almunajem Foods highlighted that the payment date will be announced after obtaining the approval of the general assembly.

In the first nine months (9M) of 2022, the Saudi firm generated SAR 273.30 million in net profit after Zakat and tax, higher by 127.56% than SAR 120.10 million in 9M-21.

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