Saudi: Ladun Investment sees 144% higher net profits in H1-23

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Riyadh – Ladun Investment Company posted a 143.73% leap in net profit after Zakat and tax to SAR 73.14 million in the first half (H1) of 2023, compared to SAR 30.01 million in H1-22.

Revenues surged by 26.90% year-on-year (YoY ) to SAR 652.13 million in H1-23 from SAR 513.89 million, according to the interim financial results.

The earnings per share (EPS) stood at SAR 0.15 as of 30 June 2023, versus SAR 0.06 in the year-ago period.

Last year, the Saudi firm generated net profits after Zakat and tax valued at SAR 60.19 million, down 25.51% from SAR 80.80 million in 2021.

The revenues climbed by 14.46% to SAR 881.17 million in 2022 from SAR 769.82 million a year earlier, while the EPS shrank to SAR 1.20 from SAR 1.62.