Riyadh – Mubasher: Alujain Corporation witnessed 92.65% lower net profits after Zakat and tax at SAR 119.29 million in 2022, versus SAR 1.62 billion in 2021.

Revenue hit SAR 1.91 billion as of 31 December 2022, a 268.03% year-on-year (YoY) hike from SAR 519.30 million, according to the income statements.

Furthermore, the earnings per share (EPS) retreated to SAR 2.42 in 2022 from SAR 24.41 a year earlier.

In the first half (H1) of 2022, the net profits after Zakat and tax of Alujain plunged by 22.01% YoY to SAR 118.75 million from SAR 152.26 million.

The revenues shrank to SAR 1.08 billion in H1-22 from SAR 10 billion in H1-21, while the EPS increased to SAR 2.41 from SAR 2.20.