Riyadh – Mubasher: Nayifat Finance Company registered net profits after Zakat and tax standing at SAR 53.70 million in the first half (H1) of 2023, down 42.41% year-on-year (YoY) from SAR 93.26 million

Revenues increased by 4.54% to SAR 202.32 million as of 30 June 2023 from SAR 193.54 million a year earlier, according to the interim income statements.

The earnings per share (EPS) reached SAR 0.45 during the first six months (6M) of 2023, versus SAR 0.78 in the year-ago period.

Financial Results for Q2-23

In the second quarter (Q2) of 2023, the Saudi-listed firm posted 51.41% YoY lower net profits after Zakat and tax at SAR 21.25 million, compared to SAR 43.74 million.

The revenues amounted to SAR 101.91 million in April-June 2023, an annual rise of 2.83% from SAR 99.11 million.

On a quarterly basis, the Q2-23 net profits dropped by 34.51% from SAR 32.45 million in Q1-23, while the revenues went up by 1.50% from SAR 100.40 million.