Saudi Tadawul Group Holding Company achieved a net profit after Zakat and tax worth SAR 196 million in the first half (H1) of 2023, down by 29.57% from SAR 278.30 million in the same six months (6M) a year ago.

The earnings per share (EPS) declined to SAR 1.63 in H1-23 from SAR 2.32 in H1-22, according to the interim financial results.

Saudi Tadawul Group generated revenue of SAR 463.30 million during January-June 2023, lower by 21.75% year-on-year (YoY) than SAR 592.10 million.

Income Statements for Q2-23

During the second quarter (Q2) of 2023, the holding group registered a 23.60% annual decline in net profit to SAR 105.20 million from SAR 137.70 million.

The revenues also decreased by 15.46% to SAR 252 million in Q2-23 from SAR 298.10 million in Q2-22.

On a quarterly basis, the Q2-23 net profits of Saudi Tadawul Group were 15.86% higher when compared to Q1-23, while the revenues rose by 19.26%.

Saudi Tadawul Group posted a SAR 90.80 million net profit after Zakat and tax in Q1-23, which was 35.42% YoY lower than SAR 140.60 million.

The revenues also declined by 28.10% to SAR 211.30 million in Q1-23 from SAR 293.90 million in the same quarter last year. Furthermore, the EPS stood at SAR 0.76, compared to SAR 1.17.

In May this year, the listed entity acquired a stake in Direct Financial Network Company (DirectFN Limited).

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