Saudi: Taiba Investments’ profit tumbles 21% YoY in 2023; dividends recommended

Revenues soared 62.41% YoY to SAR 536.41 million last year from SAR 330.28 million, according to the annual financial results

Staff Writer, Mubasher

March 27, 2024

PHOTO

The net profit of Taiba Investments Company declined by 21.33% year-on-year (YoY) to SAR 109.80 million in 2023 from SAR 139.57 million.

Revenues soared 62.41% YoY to SAR 536.41 million last year from SAR 330.28 million, according to the annual financial results.

The earnings per share (EPS) decreased to SAR 0.65 in 2023 from SAR 0.87 in 2022.

Cash Dividends

Tiba Investments’ board proposed the disbursement of SAR 169.29 million, or SAR 0.65 per share, in cash dividends for 2023.

in the first nine months (9M) of 2023, Taiba Investments registered net profits of SAR 143.51 million, a 46.99% YoY surge from SAR 97.63 million.

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