Riyadh – Mubasher: Savola Group registered an annual rise of 3.68% in net profit after Zakat and tax to SAR 672.13 million during the first nine months (9M) of 2023, compared to SAR 648.28 million.
Revenues dropped by 5.55% year-on-year (YoY) to SAR 20.25 billion in 9M-23 from SAR 21.45 billion, according to the income statements.
The earnings per share (EPS) stood at SAR 1.26 as of 30 September 2023, versus SAR 1.21 in the year-ago period.
Financial Results for Q3-23
In the third quarter (Q3) of 2023, the Saudi group posted 9.95% lower net profits after Zakat and tax at SAR 147.36 million, versus SAR 163.64 million in Q3-22.
The revenues hit SAR 6.35 billion during July-September 2023, down 10.20% YoY from SAR 7.07 billion.
On a quarterly basis, the Q3-23 profits increased by 11.61% from SAR 132.03 million in Q2-23, while the revenues grew by 4.23% from SAR 6.09 billion.
