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Baazeem achieves 10% higher profits in Q1

Baazeem achieves 10% higher profits in Q1
Revenues decreased to SAR 79.83 million in Q1-21
BAAZEEM
4051
9.78% 101.00 9.00

Riyadh – Mubasher: Baazeem Trading Company registered a 9.8% increase in net profit after Zakat and tax at SAR 9.78 million in the first quarter (Q1) of 2021, compared to SAR 8.9 million in the same period in 2020.

Earnings per share totalled SAR 0.97 in Q1-21, compared with SAR 0.88 in Q1-20, according to the initial income statements.

Revenues decreased by 1% to SAR 79.83 million in Q1-21 from SAR 80.86 million in Q1-20.

Quarter-on-quarter (QoQ), Baazeem’s net profits in Q1-21 soared 66% from SAR 5.88 million in the fourth quarter (Q4) of 2020.

Revenues also grew 19% in Q1-21 from SAR 66.85 million in Q4-20.