Elm Company’s net profits after Zakat and tax surged by 59.14% during the first half (H1) of 2022 to SAR 444 million, compared to SAR 279 million in H1-21.

The Saudi firm generated revenues worth SAR 2.13 billion in H1-22, an annual hike of 18.98% from SAR 1.79 billion, according to the interim financial results on Sunday.

During the first six months (6M) of 2022, the earnings per share (EPS) stood at SAR 5.68, higher than SAR 3.49 in H1-21.

In the second quarter (Q2) of 2022, the company’s net profits after Zakat and tax totalled SAR 195 million, a 77.27% year-on-year (YoY) hike from SAR 110 million. The Q2-22 revenues went up by 2.06% to SAR 1.03 billion, versus SAR 1.01 billion in the year-ago period.

During January-March 2022, Elm posted a 47.92%YoY leap in its net profits after Zakat and tax to SAR 250 million, compared to SAR 169 million.