Arabian Contracting Services Company (Al Arabia) generated SAR 193.57 million net profit after Zakat and tax during the first nine months (9M) of 2022, higher by 42.70% than SAR 135.65 million in 9M-21.

The revenues enlarged by 63.55% to SAR 808.75 million in the January-September 2022 period, compared to SAR 494.50 million in 9M-21, according to the interim financial results.

Earnings per share (EPS) jumped to SAR 3.87 in 9M-22 from SAR 2.71 in the year-ago period.

During the third quarter (Q3) of 2022, the Saudi company logged a net profit after Zakat and tax worth SAR 65.88 million, an annual increase of 15.42% from SAR 57.08 million.

Revenues surged by 36.80% to SAR 257.71 million in Q3-22 from SAR 188.39 million in Q3-21.

On a quarterly basis, the Q3-22 profits went up by 4.93% from SAR 62.79 million in Q2-22, whereas the revenues dropped by 2.24% from SAR 263.63 million.

In the first half (H1) of 2022, the net profits after Zakat and tax of Al Arabia amounted to SAR 127.68 million, up 62.51% year-on-year (YoY) from SAR 78.56 million.

Last October, the Tadawul-listed firm distributed cash dividends worth SAR 95 million for H1-22.