Riyadh – Mubasher: Almasane Alkobra Mining Company (Amak) recorded an annual decline of 21.39% in net profit after Zakat and tax to SAR 32.85 million during the first quarter (Q1) of 2023, versus SAR 41.81 million.
Amak generated revenues amounting to SAR 143.02 million in January-March 2023, down 9.47% year-on-year (YoY) from SAR 157.99 million, according to interim financial results.
Earnings per share (EPS) plummeted to SAR 0.50 during Q1-23 from SAR 0.75 in the year-ago period.
On a quarterly basis, the Q1-23 net profits after Zakat and tax widened by 52.86% from SAR 21.50 million in Q4-22, while the revenues dropped by 7.64% from SAR 154.86 million.
Last year, the Saudi firm logged 35.96% lower net profits after Zakat and tax valued at SAR 126.33 million, compared to SAR 197.26 million in 2021.
