Riyadh–Mubasher: The net profits of Savola Group after Zakat and tax jumped by 76.13% to SAR 270.90 million during the first quarter (Q1) of 2022, compared to SAR 153.80 million in Q1-21.
During the January-March 2022 period, the revenues surged by 25.79% to SAR 7.48 billion from SAR 5.95 billion during the same period a year earlier, according to a bourse filing on Monday.
Meanwhile, the earnings per share (EPS) stood at SAR 0.51 in Q1-22, higher than SAR 0.29 in Q1-21.
On a quarterly basis, the revenues in Q1-22 rose by 11.01% from SAR 6.74 billion in Q4-21. The Saudi listed firm turned profitable against net losses of SAR 254.40 million incurred in Q4-21.
In 2021, Savola Group recorded an annual drop of 75.64%% in net profit after Zakat and tax to SAR 221.90 million from SAR 910.80 million.
