‎“Al-Babtain Food” profits down to SR14.4 mln during 2022, by ‎‎9%‎

The net profit after zakat and tax for Abdulaziz and Mansour Ibrahim Al-Babtain Company decreased to 14.4 million riyals during the year 2022 AD, compared to 16 million riyals in the year 2021 AD, at a rate of 9%. This came after today’s announcement of the annual financial results ending on 12-31-2022.

The operational profit amounted to 10.4 million riyals during the year ending in 2022, compared to 17 million riyals in the previous year, with a decrease of 40%.

As for the total profit, it amounted to 37 million riyals in the current year, compared to 41 million riyals in the previous year, with a decrease of 11%.

Earnings per share in the current year amounted to 4.23 riyals, compared to 8.75 riyals in the previous year.

The reason for the decrease in net profits during the current period compared to the same period of the previous year is due to the increase in operating expenses, financing expenses, zakat expenses and estimated income tax.

The company said that the comparative figures have been reclassified to comply with international accounting standards.