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Saudi traders monitor stock information at the Saudi stock market in Riyadh, Saudi Arabia August 25, 2020.
The net profits after Zakat and tax of National Industrialization Company (Tasnee) shrank by 73.43% to SAR 82.10 million in the first quarter (Q1) of 2023, versus SAR 309 million in Q1-22.
The company’s revenues hit SAR 888.70 million in Q1-23, an annual drop of 9.24% from SAR 979.20 million, according to the interim financial results.
Earnings per share (EPS) stood at SAR 0.12 in the January-March 2023 period, compared to SAR 0.46 in Q1-22.
On a quarterly basis, the Q1-23 net profits hiked by 90.49% from SAR 43.10 million in Q4-22, while the revenues declined by 5.41% from SAR 939.50 million.
In 2022, Tasnee registered net profits after Zakat and tax valued at SAR 666.30 million, lower by 50.88% than SAR 1.35 billion in the 12-month period that ended on 31 December 2021.
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