SPIMACO’s profits plummet 83.5% in 2021; dividends proposed

Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) has posted an annual plunge of 83.47% in net profits after Zakat and tax at SAR 18.10 million in 2021, compared to SAR 109.54 million.

Revenues stood at SAR 1.45 billion last year, a 6.14% decline from SAR 1.55 billion in 2020, according to a recent bourse disclosure.

The earnings per share (EPS) dwindled to SAR 0.22 in 2021 from SAR 1.04 in 2020.

In a separate bourse filing, the company’s board recommended a cash dividend of SAR 0.60 per share for 2021.

SPIMACO would pay an amount of SAR 72 million, representing 6% of the capital, for 120 million eligible shares.

In the third quarter (Q3) of 2021, the Saudi listed firm recorded net profits after Zakat and tax worth SAR 6.39 million, a drop of 89.70% from SAR 62.50 million in Q3-20.

 

Mubasher Contribution Time: 27-Mar-2022 13:23 (GMT)
Mubasher Last Update Time: 27-Mar-2022 13:23 (GMT)