Saudi: Tawuniya’s net profit jumps 104% YoY in 2023

Insurance revenues jumped 33.81% YoY to SAR 15.26 million in 2023 from SAR 11.40 million

Staff Writer, Mubasher

March 7, 2024

PHOTO

The Company for Cooperative Insurance (Tawuniya) logged a 103.98% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 616.42 million in 2023 from SAR 302.19 million.

Insurance revenues jumped 33.81% YoY to SAR 15.26 million in 2023 from SAR 11.40 million, according to the annual financial results.

The earnings per share (EPS) registered SAR 4.11 last year, up from SAR 2.01 in 2022.

Tawuniya reported net profits before Zakat worth SAR 607.09 million during the first nine months (9M) of 2023, a 344.09% YoY surge from SAR 136.70 million.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.