Riyadh – Tanmiah Food Company has recorded net profits after Zakat and tax worth SAR 1.54 million during the first quarter (Q1) of 2022, down 91.80% from SAR 18.79 million in Q1-21.

The company generated SAR 435.33 million in revenue during the January-March 2022 period, up 18.18% year-on-year (YoY) from SAR 368.34 million, according to the interim financials for the period ended on 31 March 2022.

During the first three months (3M) of 2022, the earnings per share (EPS) went down to SAR 0.08 from SAR 0.94 in the same period a year earlier.

On a quarterly basis, the revenues in Q1-22 increased by 5.01% from SAR 414.53 million in Q4-21, while the company turned to profits against net losses of SAR 12.36 million.

According to the interim financial results disclosed last February, Tanmiah registered net profits worth SAR 13.56 million in 2021, an annual plunge of 81.70% from SAR 74.41 million.

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