Riyadh – Mubasher: The net profits after Zakat and tax of Arabian Drilling jumped by 35.58% to SAR 282 million in the first half (H1) of 2023 from SAR 208 million in H1-22.
Revenues surged by 25.50% year-on-year (YoY) to SAR 1.57 billion as of 30 June 2023 from SAR 1.25 billion, according to the interim consolidated financial results.
During the first six months (6M) of 2023, the earnings per share (EPS) stood at SAR 3.17, up from SAR 2.60 in the year-ago period.
Income Statements for Q2-23
In the second quarter (Q2) of 2023, the company registered SAR 140 million in net profit after Zakat and tax, an annual leap of 22.81% from SAR 114 million.
The revenues hit SAR 791 million in April-June 2023, higher by 21.13% YoY than SAR 653 million.
On a quarterly basis, the profits in Q2-23 edged down by 0.71% from SAR 141 million as of 31 March 2023, while the revenues grew by 1.54% from SAR 779 million.
Dividends for H1-23
The board members of Arabian Drilling recommended cash dividends amounting to SAR 225.17 million, equivalent to 25.30% of the capital, for H1-23.
Under the board’s proposal, the Saudi firm will disburse a dividend of SAR 2.53 per share for 89 million eligible shares.
Meanwhile, the distribution date for the H1-23 dividends will be announced following the general assembly’s meeting.
