Riyadh – Mubasher: Abdullah Al Othaim Markets Company posted net profits after Zakat and tax amounting to SAR 321.82 million in the first nine months (9M) of 2023, an annual drop of 64.58% from SAR 908.71 million.
Revenues increased by 8.26% year-on-year (YoY) to SAR 7.64 billion in 9M-23 from SAR 7.05 billion, according to the income statements.
The earnings per share (EPS) stood at SAR 0.36 as of 30 September 2023, versus SAR 1.01 in the year-ago period.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, the firm witnessed 91.76% lower net profits after Zakat and tax at SAR 62.38 million, compared to SAR 756.90 million in Q3-22.
Othaim Markets generated revenues valued at SAR 2.43 billion during July-September 2023, up 4.21% YoY from SAR 2.34 billion.
On a quarterly basis, the Q3-23 profits plummeted by 55.26% from SAR 139.43 million in Q2-23, while the revenues edged up by 0.80% from SAR 2.41 billion.
In the January-March 2023 period, the Tadawul-listed firm registered SAR 120.01 million in net profit after Zakat and tax, higher by 17.91% than SAR 101.78 million.
