Abu Dhabi - Mubasher: Emirates Steel Arkan turned profitable in the first half (H1) of 2022 with AED 279.86 million in net earnings, against net losses of AED 23.24 million in H1-21.
The revenues amounted to AED 4.61 billion in the first six months (6M) of 2022, a hike from AED 418.08 million in the year-ago period, according to the financial results.
Moreover, the basic and diluted earnings per share (EPS) stood at AED 0.041 in H1-22, versus a loss per share of AED 0.013 in H1-21.
During the second quarter (Q2) of 2022, the company achieved a net profit of AED 207.27 million, versus a net loss worth AED 24.46 million in Q2-21.
The UAE-based firm registered AED 2.57 billion in Q2-22 revenue, a jump from AED 194.54 million during the same period a year earlier.
Furthermore, the basic and diluted EPS totalled AED 0.030 in Q2-22, compared to a loss per share of AED 0.014 in Q2-21.
In the January-March 2022 period, Emirates Steel Arkan posted net profits worth AED 72.58 million, a leap from AED 1.22 million in Q1-21.
