ZOUJAJ profits jump 271% to SR37 mln in 2Q

The National Company for Glass Industries (ZOUJAJ) announced that its profits after zakat and tax rose 271% to SR 37.1 million in the second quarter of 2022 compared to SR 10 million during the same period of 2021.

This came after ZOUJAJ announcement on Wednesday of the preliminary financial results for the period ending on 30.06.2022 (six months).

The company’s operational losses rose 29.6% to SR 3.5 million in the 2^nd quarter of the current year from SR 2.7 million in the same period of the previous year.

Gross Profits of ZOUJAJ jumped 283.3% to SR 2.3 million in the second quarter of this year from SR 0.6 million a year ago, while the profit per share soared to SR 2.2 from SR 0.6.

The main reasons for the increase in net profit for the current quarter compared to the same quarter of the previous year were due to: –

• Increase in associated companies ’profit operating in the float glass sector.
• Increase in Revenue and gross margin of the glass containers business activity.

The main reason for the increase in net profit for the current quarter compared to the previous quarter was due to: –

• Increase in associated companies ’profit operating in the float glass.

The main reasons for the increase in net profit for the current period compared to the same period of the previous year were due to: –

• Increase in associated companies ’profit operating in the float glass.
• Increase in Revenue and gross margin of the glass containers business activity.