KEIR International announces the annual financial results ending on 12-31-2022
The company recorded revenues of 171,410,631 million Saudi riyals in 2022, compared to 169,374,119 million Saudi riyals in 2021, recording a growth rate of 1.2%.
Total profits of 42,878,393 million Saudi riyals were recorded in 2022 compared to 34,220,573 million Saudi riyals during the previous year, recording a growth rate of 25.30%, due to the increase in operational efficiency.
The net profit for 2022 amounted to 19,840,242 million Saudi riyals compared to 16,942,958 million Saudi riyals in 2021, which is an increase of 17.10%. The reason is due to the increase in revenues and increased operational efficiency.
Total comprehensive income in 2022 amounted to 19,794,732 million Saudi riyals, compared to 17,150,085 million Saudi riyals during the previous year, recording an increase of 15.42%.
Distribution of cash dividends to shareholders was announced, amounting to 8.9 million Saudi riyals, for the fiscal year 2022, which is equivalent to 7.4% of the nominal value of the share. The number of shares entitled to dividends amounted to 12 million shares, at 0.74 halala.
We also clarify that the eligibility date for shareholders who own shares at the end of trading on the day of the company’s general assembly (which will be determined later) and who are registered in the company’s shareholder register with the Securities Depository Center Company (Edaa) at the end of the second trading day following the date of the assembly.
KEIR International also stated the recommendation of the Board of Directors to the Extraordinary General Assembly of the company issued by its meeting held on 07 Ramadan 1444 AH corresponding to March 29, 2023 AD, to split the nominal value of the share from ten (10) riyals per share to (1) riyal per share, while keeping the company’s capital without change, so that the number of the company’s shares becomes one hundred and twenty million (120,000,000) shares instead of twelve million (12,000,000) shares, according to the provisions of the regulations and systems and the completion of the legal procedures.
