Riyadh – Mubasher: Savola Group recorded net profits after Zakat and tax worth SAR 648.30 million in the first nine months (9M) of 2022, an annual leap of 36.14% from SAR 476.20 million.

Revenues amounted to SAR 21.45 billion in the January-September 2022 period, a 19.74% year-on-year (YoY) surge from SAR 17.91 billion, according to the interim financial results.

The earnings per share (EPS) stood at SAR 1.21 in 9M-22, versus SAR 0.89 in 9M-21.

During the third quarter (Q3) of 2022, the Saudi firm posted a 33.66% YoY growth in net profit after Zakat and tax to SAR 163.60 million, compared to SAR 122.40 million.

The revenues jumped by 16.93% to SAR 7.07 billion in Q3-22 from SAR 6.04 billion in Q3-21.

On a quarterly basis, the Q3-22 net profits after Zakat and tax plummeted by 23.48% from SAR 213.80 million in Q2-22, whereas the revenues grew by 2.67% from SAR 6.88 billion.

In 6M-22, Savola Group generated SAR 484.60 million in net profit after Zakat and tax, higher by 36.97% than SAR 353.80 million in H1-21.