increase to SAR 6.6 M in H1 2022
In an exclusive, Argaam reported that KEIR International posted a rise of 63% in H1 2022 net profit after Zakat and tax to
SAR 6.6 million, compared to SAR 4.1 million in the year-earlier period.
As reported by Argaam, the financials of the company look like this:
According to the same report, the higher profit was driven by the company’s business expansion, improved operating efficiency, and revenue growth while shareholders equity, after minority interest, came in at SAR 232.688 million as of June 30, 2022, up from SAR 154.682 million a year earlier.
Saudi Exchange also reported on the interim financial report for the period ending June 30, 2022 at saudiexchange.sa
As quoted in the Saudi Exchange report, the company recorded revenues for the period ending June 30, 2022 of 63,690,543 million riyals, compared to 56,644,615 million riyals, with an increase of 12.62%.
The company recorded its operational profit for the period ending June 30, 2022 amounting to 16,686,088 Riyals, compared to 10,128,898 Riyals for the same period of the previous year, with an increase of 64.74%.
The company recorded a net profit for the period ending on June 30, 2022 amounting to 6,635,357 Riyals, compared to 4,062,943 Riyals for the same period of the previous year, with an increase of 63.31%.
As per the Saudi Exchange report, the 20th meeting of the Board of Directors of the company was held on September 13, 2022 and the following points were discussed: approval of the interim financial statement for the period and submission of a proposal by the executive management for a request to raise the company’s capital. The decision on the proposal however was postponed until the next meeting when a complete feasibility study for the pros and cons is presented.