Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company inked a contract at a value of SAR 35.38 million with the National Water Company (NWC) on 20 June.
The deal covers the operations and maintenance of an environmental service network (Sewage Network) with a central culvert in Madinah, according to a bourse disclosure.
The 36-month agreement, which was awarded on 22 November 2022, reflected on Alkhorayef Water’s financial results during the first quarter (Q1) of 2023.
Earlier this week, the listed company announced Abdulaziz Abdulrahman Alkhorayef and Fahd Mohammed Alkhorayef as the board’s Chairman and Vice Chairman, respectively.
In the January-March 2023 period, Alkhorayef Water posted net profits after Zakat and tax amounting to SAR 32.72 million, an annual rise of 29.31% from SAR 25.30 million.
Revenues climbed by 85.34% to SAR 321.61 million in Q1-23 from SAR 173.52 million in Q1-22, while the earnings per share (EPS) went up to SAR 1.31 from SAR 1.01.
