Riyadh – Mubasher: Saudi Ceramic Company logged net profits after Zakat and tax worth SAR 14.70 million in the first quarter (Q1) of 2023, an annual plunge of 71.33% from SAR 51.29 million.
Revenues amounted to SAR 368.89 million in the January-March 2023 period, a 6.88% year-on-year (YoY) decrease from SAR 396.15 million, according to interim financial results.
The earnings per share (EPS) plummeted to SAR 0.18 in the first three months (3M) of 2023, versus SAR 0.64 in the year-ago period.
On a quarterly basis, the Q1-23 net profits after Zakat and tax shrank by 64.88% from SAR 41.88 million in Q4-22, while the revenues dropped by 3.79% from SAR 383.42 million.
Last March, the Saudi firm paid out cash dividends worth SAR 39.98 million, equivalent to SAR 0.50 per share, for the second half (H2) of 2022.
During the 12-month period that ended on 31 December 2022, the company witnessed 25.61% lower net profits after Zakat and tax at SAR 173.92 million, compared to SAR 233.79 million in 2021.
