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SIIG turns profitable at SAR 811m in H1-21

SIIG turns profitable at SAR 811m in H1-21
Revenues soared by 53.8% to SAR 4.58 billion in H1-21
SIIG
2250
-1.02% 21.38 -0.22

Riyadh – Mubasher: Saudi Industrial Investment Group has achieved net profits after Zakat and tax worth SAR 811 million in the first half (H1) of 2021, against net losses of SAR 229 million in H1-20.

Earnings per share stood at SAR 1.8 in H1-21, versus SAR 0.51 in H1-20.

Revenues soared by 53.8% to SAR 4.58 billion in H1-21 from SAR 2.98 billion in H1-20, according to the financial results to Tadawul on Wednesday.

In the second quarter (Q2) of 2021, SIIG also turned to profits worth SAR 505 million against a net loss of SAR 55 million.

Revenues increased by 74.5% to SAR 2.45 billion in Q2-21 from SAR 1.4 billion in Q2-20.

On a quarterly basis, the net profits in Q2-21 were 65.5% higher than SAR 305 million in Q1-21, and the revenues rose by 15.4% from SAR 2.12 billion.

SIIG earlier announced cash dividends worth SAR 225 million, representing 5% of the capital, for H1-21.