Riyadh – Mubasher: Bawan Company’s net profits after Zakat and tax grew by 5.80% to SAR 133.02 million in the first nine months (9M) of 2022, compared to SAR 125.73 million in 9M-21.

Revenues surged by 12.74 year-on-year (YoY) to SAR 2.68 billion in 9M-22, versus SAR 2.37 billion, according to initial income statements.

The earnings per share (EPS) went up to SAR 2.22 during 9M-22 from SAR 2.10 in the year-ago period.

In the third quarter (Q3) of 2022, the Saudi company posted a 6.87% decline in net profit after Zakat and tax to SAR 38.12 million, compared to SAR 40.93 million in Q3-21.

Meanwhile, the revenues widened by 21.22% YoY to SAR 881.80 million in Q3-22 from SAR 727.43 million.

On a quarterly basis, the Q3-22 net profits after Zakat and tax plunged by 14.44% from SAR 44.55 million in Q2-22, while the revenues increased by 3.85% from SAR 849.11 million.

During the January-March 2022 period, Bawan registered net profits after Zakat and tax worth SAR 50.34 million, an annual jump of 20.79% from SAR 41.68 million.