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Ayyan Investment sees 60% higher profits in Q1-22 initial results

Ayyan Investment sees 60% higher profits in Q1-22 initial results
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AYYAN
2140
-0.67% 14.82 -0.10

Riyadh – Mubasher: Ayyan Investment Company has achieved net profits after Zakat and tax worth SAR 13.61 million during the first quarter (Q1) of 2022, an annual leap of 59.79% from SAR 8.52 million.

The company registered SAR 75.59 million in revenue in Q1-22, up 4.22% from SAR 72.53 million in Q1-21, according to the interim financial results on Thursday.

In the first three months (3M) of 2022, the earnings per share (EPS) stood at SAR 0.17, versus SAR 0.10 during the same period in 2021.

On a quarterly basis, the revenues in Q1-22 surged by 24.34% from SAR 60.79 million in Q4-21, while Ayyan Investment turned profitable in January-March 2022 against net losses of SAR 7.96 million in the Q4-21.

Last year, the Saudi listed firm reported net profits after Zakat and tax worth SAR 6.37 million, down 79.33% from SAR 30.84 million in 2020.