Riyadh – Mubasher: Saudi Industrial Investment Group (SIIG) turned to net profits of SAR 1.015 billion in the first nine months of 2021, versus net losses of SAR 143 million in the prior-year period.
Earnings per share recorded SAR 2.25 in the January-September period, compared to a loss per share of SAR 0.32 in the same period in 2020, the company said in a bourse filing on Wednesday.
The positive turn in the financial results was attributed to a higher share of profit from its jointly managed projects as well as the increase in the average sales prices of products and lower Zakat expenses.
As for the third quarter (Q3) of 2021, the company logged net profits after Zakat and tax of SAR 204 million, up by 140% year-on-year (YoY) from SAR 85 million.
In the first half (H1) of 2021, the company posted net profits after Zakat and tax worth SAR 811 million, against net losses of SAR 229 million in H1-20.
