Riyadh – Mubasher: The board of Thob Al Aseel Company registered net profits after Zakat and tax worth SAR 48.46 million during the first half (H1) of 2021, down 30.6% from SAR 69.84 million in H1-20.

Earnings per share stood at SAR 1.62 in H1-21, compared to SAR 2.33 in H1-20, according to the interim consolidated income statements on Thursday.

Revenues decreased 1.4% to SAR 306.89 million in the January-June 2021 period from SAR 311.29 million in the same half last year.

During the second quarter (Q2) of 2021, Thob Al Aseel posted a decline of 34% in net profits to SAR 34.49 million from SAR 52.32 million in Q2-20.

Revenues also shrank 13% to SAR 168.06 million in Q2-21 from SAR 193.84 million in Q2-20.

Quarter-on-quarter (QoQ), the net profits in Q2-21 jumped 146.8% from SAR 13.97 million in Q1-21. The revenues also grew 21% from SAR 138.84 million.

In a separate statement, the company said its board decided to distribute SAR 0.75 per share as a cash dividend for H1-21.

The total value of the dividends will reach SAR 22.5 million. In addition, the eligibility date is for the shareholders of record date 19 September.

Earlier today, Thob Al Aseel’s shareholders recommended a capital increase of 33.33% or SAR 100 million.