Riyadh – Mubasher: Amlak International Finance Company logged net profits amounting to SAR 11.03 million in the first quarter (Q1) of 2023.
The reported net profits were lower by 59.30% year-on-year (YoY) than SAR 27.12 million, according to the interim financial results.
In the first three months (3M) of 2023, the earnings per share (EPS) plunged to SAR 0.12 from SAR 0.30 in Q1-22.
Assets declined by 7.08% to SAR 3.40 billion as of 31 March 2023 from SAR 3.66 billion a year earlier, while investments shrank by 90.96% to SAR 893,000 from SAR 9.87 million.
On a quarterly basis, the Q1-23 net profits retreated by 30.95% from SAR 15.98 million in Q4-22.
Last March, the company’s board members recommended the payment of SAR 72.48 million as cash dividends for 2022.
During the 12-month period that ended on 31 December 2022, the Saudi firm posted net profits valued at SAR 96.72 million, a 10.24% YoY drop from SAR 107.75 million.
