Riyadh – Mubasher: The net profits after Zakat and tax of Riyadh Cables Group Company hiked by 47.87% year-on-year (YoY) to SAR 124.89 million in the first quarter (Q1) of 2023 from SAR 84.45 million.
The group posted revenues amounting to SAR 1.93 billion as of 31 March 2023, a 24.09% surge from SAR 1.56 billion in Q1-22, according to the initial income statements.
Earnings per share (EPS) increased to SAR 0.83 during Q1-23 from SAR 0.57 in the year-ago period.
On a quarterly basis, the Q1-23 net profits after Zakat and tax jumped by 17.46% from SAR 106.32 million in Q4-22, while the revenues climbed by 5.82% from SAR 1.83 billion.
In the January-December 2022 period, Riyadh Cables registered 46.61% YoY higher net profits after Zakat and tax at SAR 351.86 million from SAR 239.99 million.
As for the dividends, the company’s board members proposed the distribution of SAR 225 million as cash dividends for 2022.
