Aqaseem Factory for Chemicals and Plastics Co. reported a net profit after Zakat and tax of SAR 1.7 million for the first six-month period of 2022, a 57% decline from nearly SAR 4 million in the same period a year ago.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 45.58 | 61.24 | 34.4 % |
| Gross Income | 11.92 | 12.27 | 2.9 % |
| Operating Income | 3.95 | 2.24 | (43.4 %) |
| Net Income | 3.96 | 1.71 | (56.8 %) |
| Average Shares | 2.50 | 2.50 | - |
| EPS (Riyals) | 1.58 | 0.69 | (56.8 %) |
The profit decline is due to the increase in the prices of raw materials and the company's acquisition of an additional market share, which resulted in a growth rate of 134% year-on-year (YoY).
Total shareholders’ equity after minority interest stood at SAR 41.652 million as of June 30, 2022, from SAR 39.940 million a year earlier.
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