Alujain’s profits tumble to $31.73mln in H1-22 initial financials

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Riyadh – Alujain Holding Corporation has posted net profits after Zakat and tax worth SAR 118.75 million in the first half (H1) of 2022, down 22.01% from SAR 152.26 million in H1-21.

The company's revenues plummeted to SAR 1.08 billion in H1-22 from SAR 10 billion in the year-ago period, according to the interim financial results on Sunday.

Meanwhile, the earnings per share (EPS) settled at SAR 2.41 in the first six months (6M) of 2022, higher than SAR 2.20 during the same period a year earlier.

In the second quarter (Q2) of 2022, Alujain registered SAR 62.97 million in net profit after Zakat and tax, a 31.52% year-on-year (YoY) plunge from SAR 91.96 million. The Q2-22 revenues fell to SAR 574.64 million from SAR 5.25 billion in Q2-21.

Last July, the Saudi listed firm paid cash dividends worth SAR 103.80 million, accounting for 15% of the capital, for H1-22.

During the January-March 2022 period, Alujain’s net profits after Zakat and tax decreased by 7.49% YoY to SAR 55.78 million, compared to SAR 60.30 million.