Riyadh – Mubasher: The National Company for Glass Industries (Zoujaj) reported a 54.07% year-on-year (YoY) drop in net profit to SAR 47.90 million in 2023 from SAR 104.30 million.

Revenues surged 37.04% YoY to SAR 153.90 million last year from SAR 112.30 million, according to the annual financial results.

The earnings per share amounted to SAR 1.46 in 2023, down from SAR 3.17 the year before.

Profit resulting from the change in investment properties’ fair value totalled SAR 32.50 million, representing 9.90% of capital.

During the first nine months (9M) of 2023, Zoujaj reported SAR 21.70 million in net profit, up 6.59% YoY from SAR 92.70 million.