Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC) has registered net profits after Zakat and tax worth SAR 14.40 billion during the first half (H1) of 2022, up 15.11% year-on-year (YoY) from SAR 12.51 billion.
The revenues jumped by 35.86% to SAR 108.62 billion in H1-22, versus SAR 79.95 billion in H1-21, according to the interim financial results on Tuesday.
Additionally, the earnings per share (EPS) stood at SAR 4.80 in the first six months (6M) of 2022, higher than SAR 4.17 during the same period a year earlier.
In the second quarter (Q2) of 2022, SABIC generated SAR 7.93 billion in net profit after Zakat and tax, an annual growth of 3.79% from SAR 7.64 billion. The Q2-22 revenues surged by 31.97% YoY to SAR 55.98 billion from SAR 42.42 billion.
Meanwhile, the Saudi firm will distribute cash dividends worth SAR 6.75 billion for H1-22 on 2 October.
During January-March 2022, the company’s net profits after Zakat and tax reached SAR 6.47 billion, higher by 33.12% YoY than SAR 4.86 billion.
