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Mahara’s FY18 profit hits SAR 221m

Mahara’s FY18 profit hits SAR 221m
Net profits stood at SAR 220.6 million in 2018
MAHARAH
1831
4.90% 98.40 4.60

Riyadh – Mubasher: Maharah Human Resources Company posted a 6% year-on-year increase in its profits for the full-year 2018.

Net profits stood at SAR 220.56 million in 2018, compared to SAR 208.03 million in 2017, the company said in a bourse statement.

The company’s revenues levelled up 13% year-on-year to SAR 1.35 billion during the year ended 31 December 2018.

Earlier in May, Samba Capital announced that the initial public offering (IPO) of Maharah has been oversubscribed by 230%.

 The offering attracted 31,000 subscribers, purchasing 2.59 million shares at total proceeds of SAR 178.79 million, or SAR 69 apiece