Riyadh – Mubasher: Bawan Company recorded net profits after Zakat and tax worth SAR 84.8 million in the first half (H1) of 2021, an annual jump of 176.5% from SAR 30.66 million in H1-20.
Earnings per share stood at SAR 1.41 in H1-21, compared to SAR 0.51 in H1-20, according to a bourse filing on Thursday.
Revenues increased by 41.7% to SAR 1.65 billion in H1-21 from SAR 1.16 billion in H1-20.
In the second quarter (Q2) of 2021, Bawan posted a 178.8% surge in net profits to SAR 43.12 million from SAR 15.46 million.
Revenues soared annually by 51.4% to SAR 788.81 million in Q2-21, compared to SAR 520.9 million in Q2-20.
On a quarterly basis, the net profits in Q2-21 were 3.45% higher than SAR 41.68 million in Q1-21, while the revenues decreased by 8.5% from SAR 862.12 million.
In a separate disclosure, the company announced a cash dividend worth SAR 0.75 per share, representing 7.5% of the share’s par value, for H1-21.
The company will pay a total amount of SAR 45 million for 60 million shares eligible for the dividends.
Bawan noted that the distribution date will be 1 September, while the entitlement date is 19 August.
