Tuesday, 16 July 2024

‎“Alamar” profits declined slightly to 115 million at the end of ‎‎2022, by 2%.‎

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The net profit after zakat and tax of Alamar Food Company decreased to 115 million riyals during the year 2022 AD, compared to 117 million riyals in the year 2021 AD, at a rate of 2%. This came after today’s announcement of the annual financial results ending on 12-31-2022.

The operational profit amounted to 141 million riyals during the year ending in 2022, compared to 143 million riyals in the previous year, with a decrease of 1.3%.

As for gross profit, it amounted to 362 million riyals in the current year, compared to 307 million riyals in the previous year, an increase of 18%.

Earnings per share in the current year reached 4.58 riyals, compared to 4.65 riyals in the previous year.

Sales for the year 2022 amounted to 1,075.9 million riyals, an increase of 23.9% compared to the previous year, driven by the growth in sales of similar branches, in addition to the opening of 68 branches owned by the group during the year.

The net profit for the year 2022 amounted to 115.3 million riyals, a slight decrease of 1.8% compared to the previous year, as it was significantly affected by the expense of the employee shares program issued in the year 2022 in conjunction with the general listing of the group, in the amount of 16.0 million riyals.

While the adjusted net profit, excluding the effect of the employee shares program expense for the year 2022, amounted to 131.3 million riyals, an increase of 11.8% compared to the previous year.

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