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Baazeem logs SAR 15m net profits in H1-21

Baazeem logs SAR 15m net profits in H1-21
Earnings per share stood at SAR 1.45 in H1-21
BAAZEEM
4051
9.78% 101.00 9.00

Riyadh – Mubasher: Baazeem Trading Company announced a 5% decrease in net profits after Zakat and tax to SAR 14.69 million in the first half (H1) of 2021 from SAR 15.49 million in H1-20.

Earnings per share stood at SAR 1.45 in H1-21, compared to SAR 1.53 in H1-20, according to the financial results on Thursday.

Revenues shrank by 8.7% to SAR 139.21 million in H1-21 from SAR 152.61 million in H1-20.

In the second quarter (Q2) of 2021, Baazeem posted lower profits by 25.5% to SAR 4.9 million from SAR 6.58 million in Q1-20. The revenues also decreased by 17% to SAR 59.37 million from SAR 71.75 million.