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Amak posts 22% higher profits in Q1-22 interim financials

Amak posts 22% higher profits in Q1-22 interim financials
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Riyadh – Mubasher: Almasane Alkobra Mining Company (Amak) has achieved net profits after Zakat and tax worth SAR 41.81 million during the first quarter (Q1) of 2022, an annual surge of 21.82% from SAR 34.32 million.

Revenues stood at SAR 157.99 million in Q1-22, higher by 34.36% than SAR 117.58 million in the January-March 2021 period, according to a bourse disclosure.

Meanwhile, the earnings per share (EPS) increased to SAR 0.75 during the first three months (3M) of 2022, compared to SAR 0.63 in the year-ago period.

On a quarterly basis, the revenues in Q1-22 went down by 8.24% from SAR 172.19 million in Q4-21, while the net profits dropped by 33.34% from SAR 62.73 million.

Last year, Amak registered net profits after Zakat and tax worth SAR 197.26 million, a leap of 122.13% from SAR 88.80 million in 2020.