Amwaj International Co. reported to a 29% drop in H1 2022 net profit after Zakat and tax to SAR 15 million, from SAR 21.1 million in the year-earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 165.43 | 166.22 | 0.5 % |
| Gross Income | 36.18 | 29.70 | (17.9 %) |
| Operating Income | 26.24 | 17.91 | (31.7 %) |
| Net Income | 21.08 | 15.03 | (28.7 %) |
| Average Shares | 6.00 | 6.00 | - |
| EPS (Riyals) | 3.51 | 2.50 | (28.7 %) |
The company cited higher cost of sales amid increased provisions for customer discounts and higher agent’s sales commissions. It also reported higher general and administrative expenses (G&A) on a rise in staff costs due to annual increments and new appointments in vacancies.
Shareholders’ equity, after minority interest, rose to SAR 108.140 million as of June 30, 2022, from SAR 93.112 million a year earlier.
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