Riyadh - Mubasher: Fawaz Abdulaziz Alhokair Company (Alhokair) achieved net profits after Zakat and tax worth SAR 45.7 million in the first quarter (Q1) of fiscal year (FY) 2021/2022 that ended on 30 June 2021, against losses of SAR 535.6 million in Q1-FY20/21.

Earnings per share stood at SAR 0.22 in the first three months of FY21/22, versus a loss per share of SAR 2.5 in Q1 that ended on 30 June 2020, according to the financial results on Thursday.

Revenues soared by 201% to SAR 1.7 billion at the end of June 2021 from SAR 564.9 million in the same period last year.

On a quarterly basis, Alhokair also turned to profits in the first three months of FY21/22 against losses of SAR 348.3 million in Q4-FY20/21, which ended on 31 March 2021. The revenues meanwhile surged by 50% from SAR 1.13 billion.

At the end of June 2021, the accumulated losses reached SAR 990.93 million, representing 47.2% of the SAR 2.1 billion capital.

During the full FY20/21, the listed company suffered net losses worth SAR 1.110 billion, up by 63% from SAR 681.2 million in the previous FY.