Riyadh – Mubasher: Takween Advanced Industries Company achieved an annual surge of 556.6% in net profits after Zakat and tax to SAR 40.34 million in the third quarter (Q3) of 2021 from SAR 6.14 million.
Revenues soared by 21% to SAR 222.45 million in Q3-21 from SAR 183.33 million, according to the financial results on Thursday.
As for the January-September 2021 period, Takween turned profitable at SAR 50.36 million against losses of SAR 2.61 million in the nine-month period last year.
Revenues increased by 8% YoY to SAR 630.81 million in the first nine months of 2021 from SAR 582.51 million.
At the end of September 2021, the company’s accumulated losses reached SAR 269.33 million, representing 28.35% of the SAR 950 million capital.
