Saudi Almarai’s consolidated profits up 12.5% in 2022

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Riyadh – Almarai Company witnessed a 12.55% year-on-year (YoY) growth in net profit after Zakat and tax to SAR 1.75 billion in 2022 from SAR 1.56 billion.

The Tadawul-listed firm posted revenues worth SAR 18.72 billion in the January-December 2022 period, an annual jump of 18.12% from SAR 15.84 billion, according to the consolidated income statements.

Meanwhile, the earnings per share (EPS) increased to SAR 1.79 in 2022 from SAR 1.59 a year earlier.

During the fourth quarter (Q4) of 2022, the net profits after Zakat and tax reached SAR 355.82 million, higher by 24.18% than SAR 286.53 million in Q4-21.

The sales rose by 13.67% YoY to SAR 4.83 billion in October-December 2022, versus SAR 4.25 billion.

On a quarterly basis, the Q4-22 net profits after Zakat and tax plunged by 23.18% from SAR 463.17 million in Q3-22, while the revenues went up by 1.47% from SAR 4.76 billion.

Last month, the company’s board proposed the distribution of SAR 1 billion as cash dividends for 2022.

In the first nine months (9M) of 2022, the net profits after Zakat and tax of Almarai amounted to SAR 1.40 billion, up 9.94% from SAR 1.27 billion in the year-ago period.