‎“Aqaseem Factory” profits increased to SR5.8 million during H1, ‎by 237%‎

The net profit after zakat and tax for the Aqaseem Factory Company for the manufacture of chemicals and plastics grew to 5.8 million riyals during the first half, compared to 1.7 million riyals in the same period last year, by 237%. This came after announcing today the preliminary financial results for the period ending in 30 June (6 months).

The operational profit amounted to 6.25 million riyals in the current period, compared to 1.7 million riyals in the same period of the previous year, with a growth of 268%.

Earnings per share in the current period amounted to 20.42 riyals, compared to 16.66 riyals in the same period last year.

The company achieved an increase in net profit during the current period compared to the similar period, as the net profit for the current period amounted to 5,771,942 riyals compared to 1.71 million riyals in the similar period, with a growth rate of 237%, as the reason for the increase is due to the decrease in the cost of sales by 5%, and the reason is due to The decrease in the prices of some raw materials, in addition to the company’s tendency to pay cash to some suppliers to obtain lower prices

The company said that some comparative numbers have been rearranged and tabulated where necessary, for purposes of comparison and better display.