AlNaqool profits leap 295.2% during H1 to SAR1 million

Mohammed Hasan AlNaqool Sons Co. revealed an increase in net profit after zakat and tax during the first half to SAR 1.1 million, compared to SAR 292 thousand in the same half of last year, by 295.2%. This came after the announcement on Sunday of the interim financial results for the period ending on June 30 (six Months)

The operating profit amounted to SAR 101 thousand in the first half, compared to SAR 2.3 million in the same half of the previous year, a decrease of 95.7%.

Total shareholder equity “without minority rights” amounted to SAR 52.4 million in the 6-month period, compared to SAR 51.2 million in the same period last year, an increase of 2.2%.

Earnings per share in the current period reached SAR 0.4, compared to SAR 0.1 in the same period last year.

The net profit of the company increased by 257% compared to the first half of the previous year due to achieving profits from currency exchange differences despite the high prices of raw materials.

In addition to the decline in sales due to the company’s maintenance of the selling price policy, which will reflect positively on the company’s performance in the future.