Riyadh – Mubasher: Abdullah Al Othaim Markets Company registered a decline of 53% in net profits after Zakat and tax to SAR 105.61 million in the first half (H1) of 2021 from SAR 224.8 million in H1-20.

Earnings per share declined to SAR 1.17 in H1-21 from SAR 2.5 in H1-20, according to the financial results on Thursday.

Revenues also fell by 13.8% to SAR 4.26 billion in the January-June 2021 period from SAR 4.95 billion in the same six months last year.

In the second quarter (Q2) of 2021, the net profits shrank by 61.7% to SAR 47.93 million from SAR 125.25 million in Q2-20.

The revenues narrowed by 15.6% to SAR 2.17 billion in Q2-21 from SAR 2.57 billion in Q2-20.

On a quarterly basis, the net profits in Q2-21 were 16.9% lower than SAR 57.68 million in Q1-21, while the revenues grew by 3.5% from SAR 2.09 billion.