Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company achieved net profits after Zakat and tax worth SAR 57.70 million during the first quarter (Q1) of fiscal year (FY) 2022/2023, an annual hike of 26.26% from SAR 45.70 million.
The earnings per share (EPS) stood at SAR 0.50 during the Q1 that ended on 30 June 2022, higher than SAR 0.41 in the same period a year earlier.
Revenues inched up by 0.29% year-on-year (YoY) to SAR 1.705 billion in Q1-FY22/23, versus SAR 1.700 billion in April-June 2021, according to the interim financial results.
On a quarterly basis, the revenues in Q1-FY22/23 surged by 23% from SAR 1.38 billion in Q4-FY21/22. Alhokair turned profitable in Q1-22/23, against net losses after Zakat and tax worth SAR 44.60 million in Q4-FY21/22.
Meanwhile, the accumulated losses shrank to become 0% of the company’s capital after the listed firm cut its capital to SAR 1.14 billion from SAR 2.10 billion to amortise losses of SAR 952.33 million.
During the FY which ended on 31 March 2022, Alhokair turned to net profits after Zakat and tax of SAR 38 million, compared to net losses worth SAR 1.10 billion in the year-ago period.
