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SABIC Agri-Nutrients posts 340% higher earnings in H1-22

SABIC Agri-Nutrients posts 340% higher earnings in H1-22
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Riyadh – Mubasher: SABIC Agri-Nutrients Company reported a 339.87% year-on-year (YoY) increase in its net profit after Zakat and tax during the first half (H1) of 2022 to SAR 5.53 billion, compared to SAR 1.25 billion.

Revenues surged in H1-22 by 209.63% YoY to reach SAR 10.35 billion from SAR 3.34 billion, according to the initial income statements on Thursday.

The earnings per share (EPS) jumped to SAR 11.63 in H1-22 from SAR 2.64 in the year-ago period.

During the second quarter (Q2) of 2022, the company registered net profits after Zakat and tax worth SAR 3.02 billion, an annual hike of 261.84% from SAR 836 million.

Meanwhile, the revenues totalled SAR 5.70 billion during the April-June period in 2022, higher by 209.95% than SAR 1.83 billion in Q2-21.

In the first three months (3M) of 2022, SABIC Agri-Nutrients logged net profits after Zakat and tax worth SAR 2.51 billion, a surge of 494.08% from SAR 423 million during the same period a year earlier.