Riyadh Cables Group Company posted net profits after Zakat and tax worth SAR 251.83 million in the first half (H1) of 2023, marking a 64.22% jump from SAR 153.35 million in H1-22.

Revenues hiked by 18.52% year-on-year (YoY) to SAR 3.85 billion as of 30 June 2023 from SAR 3.25 billion, according to the interim consolidated financial results.

In the first six months (6M) of 2023, the earnings per share (EPS) stood at SAR 1.68, up from SAR 1.02 in the year-ago period.

Income Statements for Q2-23

During the second quarter (Q2) of 2023, the group recorded net profits after Zakat and tax amounting to SAR 126.93 million, an annual leap of 84.26% from SAR 68.89 million.

The revenues reached SAR 1.91 billion in the April-June 2023 period, up 13.39% YoY from SAR 1.69 billion.

On a quarterly basis, the profits in Q2-23 grew by 1.64% from SAR 124.89 million as of 31 March 2023, while the revenues dropped by 1.02% from SAR 1.93 billion.

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