Saudi: Jamjoom Pharma’s profit near $45.5mln in H1-23; dividends announced

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Riyadh – Mubasher: The net profits after Zakat and tax of Jamjoom Pharmaceuticals Factory Company (Jamjoom Pharma) hiked by 81.59% to SAR 170.70 million in the first half (H1) of 2023, versus SAR 94 million in H1-22.

Revenues stood at SAR 600.30 million in January-June 2023, higher by 24.52% year-on-year (YoY) than SAR 482.10 million, according to the initial financial results.

The earnings per share (EPS) hit SAR 2.44 during the first six months (6M) of 2023, an annual growth from SAR 1.34.

Income Statements for Q2-23

In the second quarter (Q2) of 2023, Jamjoom Pharma generated a 71.23% surge in net profit after Zakat and tax to SAR 86.30 million, compared to SAR 50.40 million during the same period a year earlier.

During the three-month period that ended on 30 June 2023, the revenues increased by 25.22% YoY to SAR 298.40 million from SAR 238.30 million.

On a quarterly basis, the profits in Q2-23 rose by 2.25% from SAR 84.40 million as of 31 March 2023, while the revenues dropped by 1.19% from SAR 302 million.

Dividends for H1-23

Jamjoom Pharma announced interim cash dividends amounting to SAR 70 million, equivalent to 10% of its capital, for H1-23.

The recently-listed firm will disburse a dividend of SAR 1 per share for 70 million eligible shares.

Eligibility and payment dates for the dividends will be 20 August and 3 September 2023, respectively.