Riyadh – Mubasher: Middle East Paper Company (MEPCO) witnessed 22.58% higher net profits after Zakat and tax at SAR 270.73 million in 2022, compared to SAR 220.86 million in 2021.
Revenues widened by 12.26% year-on-year (YoY) to SAR 1.18 billion as of 31 December 2022 from SAR 1.05 billion, according to the income statements.
The earnings per share (EPS) settled at SAR 4.05 last year, up from SAR 3.31 in 2021.
In the first nine months (9M) of 2022, MEPCO registered a net profit after Zakat and tax worth SAR 246.81 million, a 96.05% YoY leap from SAR 125.89 million.
Last November, the company’s shareholders greenlighted a 33.30% capital raise to SAR 666.66 million from SAR 500 million through the issuance of bonus shares.
