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Zahrat Al Waha logs SAR 7.5m profits in Q3

Zahrat Al Waha logs SAR 7.5m profits in Q3
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Riyadh – Mubasher: Zahrat Al Waha for Trading Company reported net profits after Zakat and tax of SAR 7.47 million in the third quarter (Q3) of 2021, higher by 3.7% than SAR 7.19 million in Q3-20.

Revenues grew year-on-year (YoY) by 62.9% to SAR 165.48 million in Q3-21 from SAR 101.53 million, according to the initial financial results on Monday.

On a quarterly basis, the net profits in Q3-21 were 54% lower than SAR 16.27 million in Q2-21, while the revenues increased by 32.8% from SAR 124.58 million.

During the first nine months of 2021, Zahrat Al Waha achieved a 64.8% YoY growth in net profits to SAR 44.07 million from SAR 26.72 million.

Earnings per share stood at SAR 2.94 at the end of September 2021, compared to SAR 1.78 in the same period last year.

Revenues rose by 22% YoY to SAR 408.21 million in the January-September 2021 period from SAR 333.79 million.