Saudi Market: 104 companies report 136% profit surge in 2021

104 companies reported a profit jump of 135.9% to SR 139.9 billion in 2021 compared to SR 59.3 billion.

Moreover, the 104 companies also reported a net profit surge of 31.2% to SR 31.3 billion in Q4 2021 compared to SR 23.9 billion during the same period of 2020.

In details, 40 companies of the 104 ones reported profit increase last year compared to 31 other companies reported profit fall in 2020.

Based on data collected by Maaal, 12 companies managed to turn from losses to profits, while other 14 ones turned to losses.

Meanwhile, Saudi listed bank profits soared 59.6% to SR 48.7 billion from SR 30.5 billion in 2020.

On a quarterly basis, 7 Saudi banks reported a profit climb led by Banque Saudi fransi whose profits leaped 954% to SR 993 million in 2021 from just SR 94.2 million.