Saudi: Astra Industrial’s net profits up in 2023; revenues hit $746mln

In the nine-month period that ended on 30 September 2023, the Saudi group recorded a 12.25% year-on-year plunge in net profit

Staff Writer, Mubasher

February 28, 2024

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Riyadh – The net profits of Astra Industrial Group edged up by 0.21% to SAR 475.32 million in 2023 from SAR 474.31 million a year earlier

Revenues amounted to SAR 2.85 billion last year, up 10.19% from SAR 2.59 billion in 2022, according to the financial results.

The higher revenues were attributed to a jump in the sales of pharmaceuticals as well as steel industries.

Meanwhile, the earnings per share (EPS) witnessed an annual growth to SAR 5.94 as of 31 December 2023 from SAR 5.93.

In the nine-month period that ended on 30 September 2023, the Saudi group recorded a 12.25% year-on-year (YoY) plunge in net profit after Zakat and tax to SAR 341.04 million, versus SAR 388.65 million.

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