Riyadh – Mubasher: Saudi Aramco Base Oil Company (Luberef) posted SAR 900.52 million in net profit after Zakat and tax during the first half (H1) of 2023, an annual rise of 21.68% from SAR 740.10 million.
Revenues hit SAR 4.40 billion in H1-23, marking a 27.51% year-on-year (YoY) decline from SAR 6.08 billion, according to interim income statements.
Earnings per share (EPS) reached SAR 5.35 in the first six months (6M) of 2023, compared to SAR 4.39 in H1-22.
Financial Results for Q2-23
During the second quarter (Q2) of 2023, the net profits after Zakat and tax of Luberef grew by 3.79% YoY to SAR 454.85 million from SAR 437.47 million.
The revenues amounted to SAR 2.61 billion in April-June 2023, lower by 21.82% than SAR 3.34 billion a year earlier.
On a quarterly basis, the Q2-23 net profits increased by 2.06% from SAR 445.67 million in Q1-23, while the revenues enlarged by 45.43% from SAR 1.79 billion.
Dividends for H1-23
The board members of Luberef approved the distribution of SAR 841.28 million as cash dividends for H1-23. The dividends amount accounts for 50% of the firm’s capital.
Accordingly, the Saudi company will disburse SAR 5 per share for 168.25 million eligible shares.
The eligibility and payment dates for the dividends will be 1 and 15 October 2023, respectively.
