Riyadh – Alujain Corporation achieved SAR 9.63 million in net profit after Zakat and tax during the first half (H1) of 2023, an annual plunge of 91.89% from SAR 118.75 million.

The revenues shrank by 26.30% year-on-year (YoY) to SAR 798.93 million in H1-23 from SAR 1.08 billion, according to the interim financial statements.

Earnings per share (EPS) stood at SAR 0.20 in the six-month period that ended on 30 June 2023, versus SAR 2.41 in H1-22.

Financial Results for Q2-23

The firm recorded 73.27% lower profits after Zakat and tax at SAR 16.83 million in the second quarter (Q2) of 2023, compared to SAR 62.97 million in Q2-22.

Revenues hit SAR 401.87 million in the April-June 2023 period, marking a 30.07% drop from SAR 574.64 million a year earlier.

On a quarterly basis, Alujain turned profitable in Q2-23, against net losses after Zakat and tax valued at SAR 7.20 million in Q1-23. Meanwhile, the revenues went up by 1.21% from SAR 397.06 million.

Last year, the company logged net profits after Zakat and tax worth SAR 119.29 million, down 92.65% from SAR 1.62 billion in 2021.

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