Alwasail Industrial profits increase to SR16.2 mln during H1, by 13%

Alwasail Industrial Company revealed that the net profit after zakat and tax in the first half rose to SR16.2 million, compared to SR14.3 million in the same period last year, at a rate of 13%.
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 SR20 million in the first half, compared to SR16.7 million in the same period of the previous year, an increase of 19.5%.
The gross shareholders’ equity “without minority rights” amounted to SR330 million in the 6-month period, compared to SR326.2 million in the same period last year, an increase of 1.13%.
Profits per share in the current period reached SR0.65, compared to SR0.57 in the same period last year.
The reason for the increase in revenues for the current period compared to the same period of the previous year by (18.16%) is due to the increase in sales in the sectors of pipes, parts and fittings.