Riyadh – Mubasher: The net profits after Zakat and tax of Riyadh Cables Group Company amounted to SAR 384.53 million in the first nine months (9M) of 2023, marking a 56.34% jump from SAR 245.96 million in 9M-22.

The earnings per share (EPS) increased to SAR 2.56 in 9M-23 from SAR 1.64 a year earlier, according to the initial income statements.

Revenues stood at SAR 5.93 billion in the January-September 2023 period, an annual hike of 18.20% from SAR 5.02 billion.

Financials for Q3-23

In the third quarter (Q3) of 2023, the Saudi group registered SAR 132.70 million in net profit after Zakat and tax, higher by 43.28% than SAR 92.61 million in Q3-22.

The company’s revenues soared by 17.60% to SAR 2.08 billion during July-September 2023, versus SAR 1.76 billion a year earlier.

On a quarterly basis, the Q3-23 net profits climbed by 4.54% from SAR 126.93 million in Q2-23, while the revenues grew by 8.51% from SAR 1.91 billion.