Saudi's SIIG registers $153.06mln profits in 9M-22 initial results

Riyadh –  Saudi Industrial Investment Group (SIIG) logged net profits after Zakat and tax worth SAR 574 million in the first nine months (9M) of 2022, an annual plunge of 43.45% from SAR 1.01 billion.

The earnings per share (EPS) stood at SAR 0.88 in the January-September period, lower than SAR 2.25 in 9M-21, according to the interim financial results.

During the third quarter (Q3) of 2022, SIIG posted a 73.04% year-on-year (YoY) drop in net profit after Zakat and tax to SAR 55 million, compared to SAR 204 million.

On a quarterly basis, the net profits after Zakat and tax in Q3-22 plummeted by 80.63% from SAR 284 million in the April-June 2022 period.

In the first half (H1) of 2022, the company registered SAR 519 million in net profit after Zakat and tax, a decrease of 36% from SAR 811 million in H1-21.

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