Riyadh – Mubasher: Bawan Company posted net profits after Zakat and tax valued at SAR 99.67 million in the first nine months (9M) of 2023, down 26.73% from SAR 133.02 million in 9M-22.

Revenues declined by 0.47% to SAR 2.49 billion in 9M-23 from SAR 2.50 billion in the same period a year earlier, according to the interim income statements.

The earnings per share (EPS) stood at SAR 1.66 as of 30 September 2023, marking a year-on-year (YoY) drop from SAR 2.22.

Financial Results for Q3-23

In the third quarter (Q3) of 2023, the listed firm witnessed a 5.20% YoY growth in net profit after Zakat and tax to SAR 40.10 million, versus SAR 38.12 million.

The company generated revenues amounting to SAR 832.01 million during July-September 2023, an annual rise of 2.34% from SAR 812.95 million.

On a quarterly basis, the Q3-23 profits hiked by 60.19% from SAR 25.03 million in April-June 2023, while the revenues grew by 8.32% from SAR 768.07 million.

In the three-month period that ended on 31 March 2023, Bawan registered SAR 34.53 million in net profit after Zakat and tax, an annual plunge of 31.41% from SAR 50.34 million.