Riyadh – Mubasher: Elm Company achieved consolidated net profits after Zakat and tax worth SAR 1.02 billion during the first nine months (9M) of 2023, signalling a 43.31% increase from SAR 718 million in 9M-22.
The earnings per share (EPS) soared to SAR 13.25 in 9M-23 from SAR 9.20 in 9M-22, according to a bourse filing.
The revenues amounted to SAR 4.21 billion during the January-September 2023 period, a 27.74% year-on-year (YoY) rise from SAR 3.29 billion.
Financial Results for Q3-23
During the third quarter (Q3) of 2023, Elm also recorded an increase of 22.34% in net profit to SAR 334 million, compared with SAR 273 million in Q3-22.
The revenues grew by 30.33% to SAR 1.52 billion in July-September 2023 from SAR 1.16 billion in the same period a year earlier.
On a quarterly basis, the net profits of Elm in Q3-23 were 10.46% lower than SAR 373 million in Q2-23, while the revenues increased by 8.33% from SAR 1.40 billion.
It is worth noting that the board members of Elm previously decided to pay out cash dividends worth SAR 233.09 million for the first half (H1) of 2023, during which the company posted net profits of SAR 695 million.
