Bawan’s Q2 profits surge 89%

Net profits after zakat and tax hiked 89.3%

Riyadh – Mubasher: Bawan Company announced its initial financial results for the second quarter of 2019.

Net profits after zakat and tax hiked 89.3% to SAR 3.02 million in Q2-19, from SAR 1.5 million in Q2-18, according to the company’s recent statement to the Saudi Stock Exchange (Tadawul).

Total revenues increased by 11.4% to SAR 519.16 million the three-month period between April and June, compared to SAR 465.7 million in the same period a year ago.

For the first half of 2019, net profits grew by 15.7% to SAR 18.07 million, against SAR 15.6 million in H1-18.

Bawan’s revenues jumped 12.9% to SAR 1.116 billion by the end of June, from 988.12 million in the corresponding period of the previous fiscal year.

Profit per share stood at SAR 0.3 during the first six months of 2019, versus SAR 0.26 in the same period of the prior year.

Source: Mubasher

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