Almarai completes redemption of $426mln sukuk – Series V

Reuters Images

The Saudi listed firm pointed out that the transaction will reflect on its income statements during the third quarter of 2022

Staff Writer, Mubasher

September 19, 2022

PHOTO

Riyadh – Almarai Company has fully redeemed its SAR 1.60 billion Sukuk – Series V on 16 September 2022.

Issued on 16 September 2015, a total of 1,600 Sukuk notes were redeemed at a par value of SAR 1 million each, according to a bourse disclosure.

The Saudi listed firm pointed out that the transaction will reflect on its income statements during the third quarter (Q3) of 2022.

In the first six months (6M) of 2022, Almarai logged net profits after Zakat and tax worth SAR 940.81 million, an annual growth of 8.40% from SAR 867.92 million.

Revenues soared by 19.13% year-on-year (YoY) to SAR 9.11 billion in H1-22 from SAR 7.65 billion.

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.