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Al Hammadi Holding’s profits surpass $49.06mln in 9M-22; earnings in Q3 leap 1,495%



Al Hammadi Holding, formerly known as Al Hammadi Company for Development and Investment, achieved net profits after Zakat and tax worth SAR 184.17 million in the first nine months (9M) of 2022.

The 9M-22 net profits were higher by 131.89% year-on-year (YoY) than SAR 79.42 million, according to the interim financial results.

Meanwhile, the revenues amounted to SAR 779.75 million in the January-September 2022 period, an annual jump of 16.36% from SAR 670.10 million.

The earnings per share (EPS) rose to SAR 1.15 in 9M-22 from SAR 0.66 in 9M-21.

During the third quarter (Q3) of 2022, the Saudi company generated SAR 57.11 million in net profit after Zakat and tax worth, a 1,495% YoY hike from SAR 3.58 million.

Revenues enlarged by 12.28% to SAR 246.92 million in Q3-22 from SAR 219.92 million in Q3-21.

On a quarterly basis, the Q3-22 net profits after Zakat and tax retreated by 12.27% from SAR 65.10 million in Q2-22, while the revenues declined by 12.42% from SAR 281.94 million.

In the first half (H1) of 2022, Al Hammadi Holding posted a 67.54% surge in net profit after Zakat and tax to SAR 127.06 million, compared to SAR 75.84 million in H1-21.

Last September, the firm disbursed SAR 48 million, equivalent to 3% of the capital, as cash dividends for Q3-22.