Riyadh – Taiba Investments Company turned profitable in the first half (H1) of 2022, earning SAR 54.84 million in net profits, against net losses of SAR 14.79 million in H1 of 2021.

Profit per share during the six-month period ended 30 June 2022 stood at SAR 0.34, compared with a loss per share of SAR 0.09 in the year-ago period, according to a bourse filing on Thursday.

Revenues of the Tadawul-listed company advanced by 103.14% year-on-year (YoY) in H1-22 to reach SAR 133.73 million from SAR 65.83 million.

Over the second quarter (Q2) of 2022, Taiba Investments moved to net earnings of SAR 34.49 million, versus net losses of SAR 12.88 million in Q2-21.

In the meantime, revenues surged by 152.47% YoY in Q2-22 to stand at SAR 81.17 million.

During Q1-22, the company recorded net profits after Zakat and tax of SAR 20.35 million, against net losses of SAR 1.91 million in the corresponding period of 2021.

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