Riyadh – Mubasher: The net profits after Zakat and tax of Tanmiah Food Company amounted to SAR 49.60 million in the first nine months (9M) of 2023, a drop of 21.89% from SAR 63.50 million in the same period of the previous year.
The revenues rose by 21.52% year-on-year (YoY) to SAR 1.51 billion in 9M-23 from SAR 1.24 billion, according to the financial results.
The earnings per share (EPS) was SAR 2.50 as of 30 September 2023, compared to SAR 3.20 in the year-ago period.
Financial Results for Q3-23
In the third quarter (Q3) of 2023, the company recorded a 45.74% fall in net profit after Zakat and tax to SAR 17.20 million, compared to SAR 31.70 million in Q3-22.
Meanwhile, Tanmiah generated revenues of SAR 533.70 million during July-September 2023, which were higher by 13.19% YoY than SAR 471.50 million.
On a quarterly basis, the Q3-23 net profits increased by 50.88% from SAR 11.40 million in Q2-23, while the revenues grew by 7.02% from SAR 498.70 million.
