National Building and Marketing reports Sr32 mln profits in H1, ‎up 27%‎

The National Building and Marketing Co. revealed an increase in net profit after zakat and tax in the first half to 31.8 million riyals, compared to 25.09 million riyals in the same quarter of last year, at a rate of 26.8%. This came after today’s announcement of the preliminary financial results for the period ending in 2022- 06-30 (six months).

The operatinoal profit amounted to 33.7 million riyals in the first half, compared to 28.7 million riyals in the same period of the previous year, an increase of 17.4%.

The total shareholders’ equity “without minority rights” amounted to 273.1 million riyals in the 6th period, compared to 241.4 million riyals in the same period last year, a growth of 12.15%.

Profits per share in the current period reached 2.65 riyals, compared to 2.09 riyals in the same period last year.

Because of increase in revenues by 13.71% and the increase in operating net profit by 17.48% and the increase in total comprehensive income by 26.87% for all operating sectors compared to the same period of the previous year as follows:

Steel Industry Sector:

Revenues of the steel industry increased from amount of SAR 185 million to amount of SAR 213 million and its represent 14.82% increasing compared to the same period of the previous year, due to the improvement in average selling prices during the first quarter of this year.

Construction Projects Sector:

Revenues of the construction projects sector increased from amount of SAR 110 million to amount of SAR 122 million and its represent 10.84% increasing compared to the same period of the previous year.

Financing costs decreased from 3 million riyals to 2.5 million riyals, a decrease of 23.88% Due to the company commitment to the banks.

Additional Information:

The company’s share in the sister companies amounted to 1,264 thousand riyals, compared to 1,148 thousand riyals for the previous period, an increase of 10.04%

The total shareholders’ equity (after excluding non-controlling interests) for the period ending on 30.06.2022 amounted to 273 million riyals compared to the period ended 30.06.2021 by 241 million riyals, and showing increase of 13.15%

The basic and diluted earnings per share were calculated by dividing the profitability for the period attributable to the equity of the shareholders of the parent company by the weighted average number of issued shares and showing amount of SAR 2.65 for current period compared to amount of SAR 2.09 for the previous period and its represented 26.79%