Riyadh – Mubasher:  Mawarid Manpower Company achieved a net profit after Zakat and tax of SAR 67.54 million in the first nine months (9M) of 2023, up by 33.27% year-on-year (YoY) from SAR 50.68 million.

Earnings per share (EPS) rose to SAR 4.50 in 9M-23, compared to SAR 3.38 in 9M-22, according to the interim financial results.

Revenues surged by 37.23% YoY to SAR 919.23 million in 9M-23 from SAR 669.58 million.

Income Statements for Q3-23

In the third quarter (Q3) of 2023, Mawarid Manpower reported a net profit after Zakat and tax of SAR 22.93 million, which came 21.13% YoY higher than SAR 18.93 million. 

The company’s revenues also jumped by 29.20% YoY to SAR 320.07 million in Q3-23 from SAR 247.74 million in Q3-22.

On a quarterly basis, the net profit in Q3-23 increased by 2.14% from SAR 22.45 million in Q2-23 and the revenues grew by 4.84% from SAR 305.29 million.

It is noteworthy to mention that Mawarid Manpower began the listing and trading of its shares on the Main Market of the Saudi Exchange (Tadawul) on 19 June 2023.