Savola Group registers 39% lower profits in H1

Sales went down marginally by 0.6%

  
An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.Image used for illustrative purpose.

An investor walks past a screen displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh, Saudi Arabia June 29, 2016.Image used for illustrative purpose.

REUTERS/Faisal Al Nasser
Riyadh – Mubasher: Savola Group posted an annual decrease of 39% in net profits after Zakat and tax to SAR 353.8 million in the first half (H1) of 2021 from SAR 582.3 million in H1-20.

Earnings per share stood at SAR 0.66 in H1-21, compared to SAR 1.09 in H1-20, according to a bourse filing on Wednesday.

Sales went down marginally by 0.6% to SAR 11.85 billion in H1-21 from SAR 11.93 billion in H1-20.

In the second quarter (Q2) of 2021, the group registered a plunge of 51% in net profits to SAR 200 million from SAR 409.6 million in Q2-20.

Sales also shrank by 1.7% to SAR 5.9 billion in Q2-21 from SAR 6 billion in Q2-20.

On a quarterly basis, the net profits in Q2-21 were higher by 30% than SAR 153.8 million in Q1-21, while the sales declined by 0.8% from SAR 5.95 billion.

Source: Mubasher

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