Riyadh – Mubasher: Bawan Company announced a 38% annual rise in net profits after Zakat and tax to SAR 40.93 million during the third quarter (Q3) of 2021 from SAR 29.57 million in Q3-20.

Revenues grew by 32.5% year-on-year (YoY) to SAR 727.43 million in Q3-21 from SAR 548.78 million, according to the initial financial results on Wednesday.

The net profits in Q3-21 were meanwhile 5% lower than SAR 43.12 million in Q2-21.

During the first nine months of 2021, Bawan reported net profits worth SAR 125.73 million, a YoY surge of 108.7% from SAR 60.24 million.

Earnings per share stood at SAR 2.1 at the end of September 2021, compared to SAR 1 in the same period last year.

Revenues soared by 38.7% YoY to SAR 2.37 billion in the January-September 2021 period from SAR 1.71 billion.