Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company reported a 14.45% decline in net profits after Zakat and tax to SAR 26.93 million during the first quarter (Q1) of 2021, compared with SAR 31.49 million in the same period last year.

Earnings per share stood at SAR 1.08 in Q1-21, compared to SAR 1.26 in Q1-20, according to initial income statements.

On a quarterly basis, the net profit in Q1-21 was also down by 14.7% from SAR 31.59 million in the fourth quarter (Q4) of 2020.

Annual revenues went up 0.21% to SAR 133.01 million in Q1-21 from SAR 132.73 million in Q1-20. They were meanwhile down 5% in the first three months of 2021 from SAR 140.56 million in Q4-20.