Kingdom Holding’s profits hike to $1.78bln in 9M-22 interim financials

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Riyadh – The net profits after Zakat and tax of Kingdom Holding Company amounted to SAR 6.70 billion in the first nine months (9M) of 2022, an annual surge of 996.02% from SAR 611.99 million.

Revenues hiked by 99.96% year-on-year (YoY) to SAR 1.86 billion during the January-September 2022 period, compared to SAR 934.61 million, according to the interim financial results.

The earnings per share (EPS) increased to SAR 1.81 in 9M-22 from SAR 0.17 in the year-ago period.

During the third quarter (Q3) of 2022, the company witnessed a 226.44% leap in net profit after Zakat and tax to SAR 354.80 million, compared to SAR 108.68 million in Q3-21.

The revenues enlarged by 91.94% YoY to SAR 649.30 million in Q3-22 from SAR 338.27 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax retreated by 16.94% from SAR 427.14 million in Q2-22, while the revenues plunged by 15.62% from SAR 769.47 million.

In the first half (H1) of 2022, the Tadawul-listed firm logged net profits after Zakat and tax worth SAR 6.35 billion, higher by 1,162% than SAR 503.30 million in H1-21.