Riyadh – Mubasher: The net profits of Astra Industrial Group soared by 288.8% in 2020 to stand at SAR 115.4 million from SAR 29.7 million a year earlier.

The growth in Astra’s annual profits was helped by higher sales and gross profits in the pharmaceuticals and speciality chemicals sectors, according to a bourse statement on Thursday.  

Meanwhile, financing costs in some sectors and other expenses slumped.

On the other hand, the company’s revenue increased by 9.7% annually last year to SAR 2 billion.

In a separate filing, the company said its board recommended paying to shareholders SAR 60 million or 7.5% of the share’s nominal value in cash dividends for 2020.