Riyadh – Mubasher: Bawan Company achieved an 88.91% year-on-year (YoY) surge in net profits after Zakat and tax to SAR 170.34 million in 2021 from SAR 90.16 million.

Earnings per share stood at SAR 2.84 last year, compared to SAR 1.5 in 2020, according to the financial results.

Revenues also soared by 33.18% YoY to SAR 3.22 billion in 2021 from SAR 2.42 billion.

Bawan attributed the increase in 2021 profits to higher sales of the metal and wood industries sector.

During the first nine months (9M) of 2021, the company achieved net profits worth SAR 125.73 million, higher by 108.7% than SAR 60.24 million in 9M-20.