Riyadh – Mubasher: Savola Group registered SAR 392.70 million in net profit after Zakat and tax during the first quarter (Q1) of 2023, an annual jump of 44.96% from SAR 270.90 million.
Revenues increased by 4.34% year-on-year (YoY) to SAR 7.81 billion in Q1-23 from SAR 7.48 billion, according to the initial income statements.
The earnings per share (EPS) amounted to SAR 0.74 as of 31 March 2023, versus SAR 0.51 in Q1-22.
On a quarterly basis, the Q1-23 net profits after Zakat and tax enlarged by 315.56% from SAR 94.50 million in Q4-22, while the revenues climbed by 18.32% from SAR 6.60 billion.
Dividends
The company’s shareholders of greenlighted cash dividends worth SAR 352.40 million, equivalent to 6.60% of the capital, for 2022.
Eligible shareholders will receive a dividend of SAR 0.66 per share on 31 May 2023.
Last year, the Saudi firm witnessed 234.75% higher net profits after Zakat and tax at SAR 742.80 million, compared to SAR 221.90 million in 2021.
