Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) achieved net profits after Zakat and tax worth SAR 770.36 million in the first half (H1) of 2023, marking an 87.57% year-on-year (YoY) plunge from SAR 6.20 billion.
Revenues declined by 27.80% to SAR 15.01 billion as of 30 June 2023 from SAR 20.79 billion in H1-22, according to the interim consolidated financial results.
The earnings per share (EPS) hit SAR 0.21 during the first six months (6M) of 2023, down from SAR 1.68 in the year-ago period.
Income Statements for Q2-23
In the second quarter (Q2) of 2023, Ma’aden recorded net profits after Zakat and tax amounting to SAR 350.94 million, lower by 91.29% YoY than SAR 4.02 billion.
The revenues stood at SAR 6.96 billion in the April-June 2023 period, a 41.34% YoY decrease from SAR 11.87 billion.
On a quarterly basis, the profits in Q2-23 plummeted by 16.33% from SAR 419.41 million as of 31 March 2023, while the revenues dropped by 13.41% from SAR 8.04 billion.
