Riyadh – Mubasher: Mayar Holding Company logged net profits after Zakat and tax amounting to SAR 800,000 in 2022, lower by 95.72% than SAR 18.70 million in 2021.

The Saudi firm generated SAR 413.8 million in revenue as of 31 December 2022, up 44.58% year-on-year (YoY) from SAR 286.20 million, according to the annual income statements.

Earnings per share (EPS) plummeted to SAR 0.27 last year from SAR 66.10 in the January-December 2021 period.

Meanwhile, the board members of Mayar Holding decided not to distribute cash dividends to shareholders for 2022.

The board’s proposal aims to expand the company’s existing and future business in line with its strategy. This is in addition to boosting the listed firm’s cash liquidity and anchoring its financial position.