Keir profits increase to SR6.6 mln during H1 by 63%

Keir International Company revealed that the net profit after zakat and tax increased during the first half to SR6.6 million, compared to SR4 million in the same period last year, at a rate of 63.3%.
This came after announcing on Wednesday the preliminary financial results for the period ending on 30.06.2022 (six months).
The operational profit amounted to SR8.4 million in the first half, compared to SR5.3 million in the same period of the previous year, an increase of 58.3%.
The gross shareholders’ equity “without minority rights” amounted to SR232.6 million in the 6-month period, compared to SR154.6 million in the same period last year, a growth of 50.4%.
Profits per share in the current period reached SR0.55, compared to SR0.41 in the same period last year.
The company recorded revenues for the period ending 30.06.2022 (six months) of SR63,690,543 million, compared to SR56,644,615 million, with an increase of 12.62%. This increase is due to the expansion of the company’s activities and business.
The company recorded its operational profit for the period ending 30-06-2022 (six months) amounting to SR16,686,088, compared to SR10,128,898 for the same period of the previous year, with an increase of 64.74% and this increase is due to improvement in the operational efficiency.
The company recorded a net profit for the period ending on 30-06-2022 (six months) amounting to SR6,635,357, compared to SR4,062,943 for the same period of the previous year, with an increase of 63.31%. This increase is a result of increased revenues and improvement in operational efficiency.
The 20th meeting of the Board of Directors was held on Tuesday 13-09-2022 and several points were discussed, including the following:
1- Approve the interim financial statement for the period ending 06-30-2022 (6 months).
2- A proposal was submitted by the executive management for a request to raise the company’s capital. After discussion, the Board agreed to postpone the decision on this matter until the next meeting when a complete feasibility study for the pros and cons is presented.