‎“Group Five” achieved a net profit of 9.6 million riyals during ‎H1‎

The net profit after zakat and tax for the Saudi Group Five Pipes Company during the current period amounted to 9.6 million riyals, compared to a loss of 18.7 million riyals in the same period last year. This came after today’s announcement of the preliminary financial results for the period ending on June 30 “6 months “

The operational profit during the current period amounted to 23.3 million riyals, compared to a loss of 13.1 million riyals for the same period last year.

The total shareholders’ equity “after excluding minority rights” amounted to 323 million riyals for the current period, compared to 315.7 million riyals, at a rate of 2.28%.

Earnings per share amounted to 0.35 riyals for the current period, compared to a loss of 0.67 riyals for the same period last year.

The reason for the increase in net profit during this period is due to the increase in the number and volume of implemented projects, in addition to the stability of raw material prices.