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SABIC Agri-Nutrients’ profits leap 494% in Q1-22 initial financials

SABIC Agri-Nutrients’ profits leap 494% in Q1-22 initial financials
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Riyadh – Mubasher: SABIC Agri-Nutrients Company has generated SAR 2.51 billion in net profit after Zakat and tax during the first quarter (Q1) of 2022, an annual hike of 494.08% from SAR 423 million.

Revenues surged by 209.22% to SAR 4.65 billion in Q1-22 from SAR 1.50 billion in Q1-21, according to the interim financials on Tuesday.

During the January-March 2022 period, the earnings per share (EPS) jumped to SAR 5.28 from SAR 0.89 in the same period a year earlier.

On a quarterly basis, the revenues in Q1-22 increased by 15.27% from SAR 4.04 billion in Q4-21, while the net profits dropped by 9.08% from SAR 2.76 billion.

In 2021, the Saudi listed company posted a 303.96% year-on-year (YoY) leap in net profit after Zakat and tax to SAR 5.22 billion, compared to SAR 1.29 billion.