Riyadh – The net profits after Zakat and tax of Herfy Food Services Company plummeted by 97.66% year-on-year (YoY) to SAR 3.54 million in 2022 from SAR 151.79 million.

Revenues amounted to SAR 1.24 billion in January-December 2022, down 5.70% from SAR 1.31 billion a year earlier, according to the income statements.

The earnings per share (EPS) hit SAR 0.05 last year, compared to SAR 2.35 in 2021.

Dividends

The company’s board recommended the distribution of SAR 32.34 million as cash dividends for 2022.

Under the board’s suggestion that was determined on 15 March, the Saudi firm would disburse SAR 0.50 per share for 64.68 million eligible shares. The proposed dividends equal 5% of the share nominal value.

Meanwhile, the payment date will be confirmed once the general assembly greenlights the 2022 dividends.

In the first nine months (9M) of 2022, Herfy Food Services witnessed 38.02% lower net profits after Zakat and tax at SAR 69.53 million, versus SAR 112.20 million in 9M-21.

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