Amwaj International profits down 28.7% to SR 15 mln in H1‎

Amwaj International Company revealed that the net profit after zakat and tax decreased in the first half to 15 million riyals, compared to 21 million riyals in the same period last year, by 28.7%, this came after today’s announcement of the preliminary financial results for the period ending in 2022-06 -30 (six months).

The operating profit amounted to 18 million riyals in the first half, compared to 26.2 million riyals in the same period of the previous year, a decline of 31.7%.

The total shareholders’ equity “without minority rights” amounted to 108 million riyals in the 6-month period, compared to 93 million riyals in the same period last year, an increase of 16%.

Earnings per share in the current period amounted to 0.03 riyals, compared to 0.04 riyals in the same period last year.

The reason of less of net income As a result of the increase in selling costs as a result of the increase in provisions for customer discounts, the increase in sales commissions for delegates, and the increase in general and administrative expenses as a result of the increase in employee salaries as a result of annual increases and the appointment of several vacancies