Riyadh –  The net profits after Zakat and tax of Bawan Company amounted to SAR 34.53 million in the first quarter (Q1) of 2023, lower by 31.41% than SAR 50.34 million in Q1-22.

The revenues declined by 0.63% YoY to SAR 944.41 million in Q1-23 from SAR 950.42 million, according to the interim financial results.

Earnings per share (EPS) stood at SAR 0.58 in January-March 2023, compared to SAR 0.84 in Q1-22.

On a quarterly basis, the Q1-23 net profits increased by 15.78% from SAR 29.82 million in Q4-22, while the revenues inched down by 0.64% from SAR 950.53 million.

During the 12-month period that ended on 31 December 2022, Bawan registered net profits after Zakat and tax worth SAR 162.85 million, a 4.40% YoY drop from SAR 170.34 million.

As for the cash dividends, the Saudi firm paid out a total of SAR 39 million for the second half (H2) of 2022 last April.

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