Almunajem Foods, a Saudi Arabian company, earned SAR 290.20 million in net profits after Zakat and tax in 2022, representing a 74.71% increase from SAR 166.10 million in 2021.
The company’s revenues for the year amounted to SAR 2.97 billion, up 15.58% YoY from SAR 2.57 billion in the previous year. Almunajem Foods’ earnings per share rose from SAR 3.10 in 2021 to SAR 4.84 in 2022.
However, during the fourth quarter of 2022, the company’s net profits after Zakat and tax fell by 63.26% to SAR 16.90 million compared to SAR 46 million in Q4-21. Despite this, revenues for the quarter rose 10.05% YoY to SAR 747.80 million.
The company’s board proposed a cash dividend of SAR 60 million for the second half of 2022, equivalent to 10% of the share nominal value.
In the first nine months of 2022, the company generated SAR 273.30 million in net profit after Zakat and tax, a significant increase from SAR 120.10 million in the same period in 2021.