Riyadh –  Fitaihi Holding Group generated net profits after Zakat and tax worth SAR 6.47 million in the first half (H1) of 2023, lower by 61.52% than SAR 16.84 million in H1-22.

Revenues plummeted by 32.13% year-on-year (YoY) to SAR 37.69 million in H1-23 from SAR 55.54 million, according to the interim financial results.

Moreover, the earnings per share (EPS) decreased to SAR 0.24 in H1-23 from SAR 0.61 during the same period in 2022.

Financial Results for Q2-23

In the second quarter (Q2) of 2023, the net profits after Zakat and tax dropped by 90.73% to SAR 851,953 from SAR 9.18 million in Q2-22.

Furthermore, the company’s revenue reached SAR 14.29 million in the April-June 2023 period, marking a 38.12% YoY downturn from SAR 23.09 million.

On a quarterly basis, the Q2-23 net profits shrank by 84.86% from SAR 5.62 million in Q1-23, while the revenues lessened by 38.93% from SAR 23.40 million.

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