Riyadh – Mubasher: The net profits after Zakat and tax of Al Hammadi Holding jumped by 31.41% to SAR 81.42 million in the first quarter (Q1) of 2023, versus SAR 61.96 million in Q1-22.

Revenues totalled SAR 298.60 million as of 31 March 2023, a 19.02% year-on-year (YoY) growth from SAR 250.89 million, according to interim financial results.

The earnings per share (EPS) stood at SAR 0.51 during the first three months (3M) of 2023, an annual rise from SAR 0.39.

On a quarterly basis, the Q1-23 net profits after Zakat and tax increased by 11.28% from SAR 73.17 million in Q4-22, while the revenues declined by 12.85% from SAR 342.64 million.

Last December, the Saudi firm, formerly known as Al Hammadi Company for Development and Investment, paid a total of SAR 56 million as cash dividends for Q4-22.