‎“Zoujaj” profits decreased to SR8.6 mln during Q1, by 76%‎

The net profit after zakat and tax for the National Glass Industries Company “Zoujaj” declined to 8.6 million riyals during the first quarter, compared to 35.3 million riyals in the same quarter of last year, by 76%. This came after today’s announcement of the preliminary financial results for the period ending in 2023-03-31 ( 3 months).

The operational profit amounted to 7 million riyals in the first quarter, compared to 1.6 million riyals in the same quarter of the previous year, an increase of 344%.

As for the total profit, it amounted to 10 million riyals in the first quarter, compared to 5 million riyals in the same quarter of the previous year, with a growth of 98%.

Earnings per share in the current period amounted to 0.26 riyals, compared to 1.07 riyals in the same period last year.

The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to:

The decrease in the profits of associate companies in the flat glass sector as a result of maintenance work at Guardian International Co. Ltd. in Jubail.

The reason for the decrease in net profit during the current quarter compared to the same quarter of the previous year is due to:

The decrease in the profits of associate companies in the flat glass sector as a result of maintenance work at Guardian International Co. Ltd. in Jubail.

The company said that the comparative figures have been reclassified to conform to the presentation of the figures for the current period.

The operating profit from glass containers for the current quarter amounted to 7.1 million riyals, compared to 1.6 million riyals for the same quarter of last year.