Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company’s net profits after Zakat and tax jumped by 21.62% to SAR 81 million in the first half (H1) of fiscal year (FY) 2022/2023, compared to SAR 66.60 million in H1-21/22.

The revenues amounted to SAR 3.07 billion in H1-22/23, up 0.54% year-on-year (YoY) from SAR 3.06 billion, according to the interim income statements.

Meanwhile, the earnings per share (EPS) settled at SAR 0.69 during the first six months (6M) of FY22/23, versus SAR 0.60 in the year-ago period.

During the second quarter (Q2) of FY22/23, the company’s net profits after Zakat and tax reached SAR 23.30 million, an annual growth of 11.48% from SAR 20.90 million.

Revenues inched up by 0.85% YoY to SAR 1.37 billion during the three-month period which ended on 30 September 2022, compared to SAR 1.36 billion.

On a quarterly basis, the net profits after Zakat and tax in Q2-22/23 dropped by 59.62% from SAR 57.70 million in Q1-22/23, while the revenues shrank by 19.51% from SAR 1.70 billion.

Ahmed Belbesy, CF of Alhokair, said: “We have established a firm base and are confident in Alhokair’s ability to drive forward in the face of market challenges.”

Belbesy added: “In KSA, the secular change in consumer spending habits has been further impacted by a return of summer travel following a COVID-impacted two-year period, and the return and rise of pre-pandemic activities.”

In the April-June 2022 period, Alhokair witnessed a 26.26% surge in net profit after Zakat and tax from SAR 45.70 million during the same period in the previous FY.