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Al Arabia’s profits surge 33% in 2022 results

Al Arabia’s profits surge 33% in 2022 results
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ALARABIA
4071
10.94% 225.20 22.20

Riyadh – Mubasher: The net profits after Zakat and tax of Arabian Contracting Services Company (Al Arabia) reached SAR 274.70 million in 2022, up 33.19% year-on-year (YoY) from SAR 206.24 million.

Revenues amounted to SAR 1.12 billion last year, a 56.28% hike from SAR 720.63 million in 2021, according to the income statements.

Additionally, the earnings per share (EPS) hit SAR 5.49 as of 31 December 2022, higher than SAR 4.12 a year earlier.

In the first nine months (9M) of 2022, Al Arabia recorded 42.70% higher net profits after Zakat and tax at SAR 193.57 million, compared to SAR 135.65 million in the year-ago period.

The revenues jumped by 63.55% to SAR 808.75 million in 9M-22 from SAR 494.50 million in 9M-21, whereas the EPS grew to SAR 3.87 from SAR 2.71.