SIIG Q3 Profits Drop 55.8% to SAR 98 Million

Saudi Industrial Investment Group (SIIG) revealed on Thursday a 55.8% decrease in net profit during the third quarter to 98 million riyals, compared to 222 million riyals in the same quarter last year. This came after the announcement today of the preliminary financial results for the duration ending Sep. 30, 2024 (nine months).

The operational profit decreased by 51.5% to 106 million riyals in the third quarter, compared to 219 million riyals in the same quarter last year.

The company’s net profit during the 9-month duration increased by 88% to 190 million riyals, compared to 101 million riyals in the same duration last year.

Profits per share in the current duration reached 0.25 riyals, compared to 0.13 riyals in the same duration last year.