‎“Al-Wasail Industrial” up to SR32.3 mln during 2022, by 6%‎

Al-Wasail Industrial Company revealed an increase in net profit after zakat and tax during the year ending on December 31, 2022 to 32.3 million riyals, compared to 30.4 million riyals in the previous year, by 6%. This came after today’s announcement of the annual financial results ending in 12-2022. 31 (twelve months).

The operational profit amounted to 39.4 million riyals during the year ending on December 31, 2022, compared to 34 million riyals last year, an increase of 16%.

The total shareholders’ equity “without minority rights” amounted to 346.1 million riyals in the current year, compared to 326.2 million riyals in the previous year, an increase of 6.1%.

Earnings per share in the current year reached 1.29 riyals, compared to 1.22 riyals in the previous year.

The reason for the increase in net profit this year compared to the previous year is due to the increase in sales by 27% compared to the previous year as a result of the increase in the value of pipe sales by 13.91%.