Atlas Elevators profits increase to SAR 8.3 million for H1, by 57.4%

Atlas Elevators General Trading and Contracting Co. announced an increase in net profit after zakat and tax in the first half to SAR 8.3 million, compared to SAR 5.2 million in the same half of last year, by 57.4%. This came after the announcement on Thursday of the preliminary financial results for the period ended on June 30 (six months).

Operational profit reached SAR 7.7 million in the first half, compared to SAR 5 million in the same half of the previous year, a growth of 522.5%.

Total shareholders’ equity (excluding minority rights) reached SAR 68.8 million in the current period, compared to SAR 58.4 million in the same period last year, an increase of 17.7%.

Earnings per share in the current period reached SAR 1.73, compared to SAR 1.1 in the same period last year.

The reason for the increase in net profit during the current period compared to the same period of the previous year is the decrease in the cost of sales.

Additional Information:

The number of shares in the first half period was 4,800,000 shares with a capital of SAR 48,000,000. After listing, the number of shares became 6,000,000 shares with a capital of SAR 60,000,000.