Alwasail Industrial profits increase to SAR 17.7 million during H1 by 9.6%

Alwasail Industrial Co. revealed an increase in net profit after zakat and tax during the first half to SAR 17.7 million, compared to SAR 16.1 million in the same half of last year, by 9.6%. This came after the announcement on Tuesday of the interim financial results for the period ended on June 30 (six months).

The operational profit amounted to SAR 21.3 million in the first half, compared to SAR 19.9 million in the same half of the previous year, an increase of 6.6%.

The total shareholders’ equity “without minority rights” amounted to SAR 345.1 million in the 6-month period, compared to SAR 329.9 million in the same period last year, an increase of 4.6%.

Earnings per share in the current period reached SAR 0.71, compared to SAR 0.65 in the same period last year.

Increase in net profit for current period compared to previous period is attributed to an increase in sales by 25% over the same period of the previous year.