Riyadh – Mubasher: Almunajem Foods Company achieved net profits after Zakat and tax totalling SAR 81.90 million in the first quarter (Q1) of 2023, lower by 16.09% than SAR 97.60 million in Q1-22.
The earnings per share (EPS) went down to SAR 1.36 at the end of March 2023 from SAR 1.63 in the same period last year, according to the estimated financial results.
The revenues, meanwhile, increased by 14.47% year-on-year (YoY) to SAR 902 million in Q1-23 from SAR 788 million.
On a quarterly basis, the net profits of Almunajem Foods in Q1-23 jumped by 384.62% from SAR 16.90 million in Q4-22.
The revenues also grew by 20.62% quarter-on-quarter (QoQ) in Q1-23 from SAR 747.80 million.
In 2022, the listed firm generated higher annual net profits at SAR 290.20 million and recorded revenues worth SAR 2.97 billion.
