Saudi Industrial Investment Group’s profits tumble 36% in H1-22 interim results


Saudi Industrial Investment Group (SIIG) recorded a 36% year-on-year (YoY) plunge in net profit after Zakat and tax to SAR 519 million during the first half (H1) of 2022, versus SAR 811 million.

The earnings per share (EPS) stood at SAR 0.69 in H1-22, lower than SAR 1.80 in the year-ago period, according to the initial financial results.

During the second quarter (Q2) of 2022, the company’s net profits after Zakat and tax plummeted by 43.76% to SAR 284 million, compared to SAR 505 million in Q2-21.

In the first three months (3M) of 2022, SIIG registered net profits after Zakat and tax worth SAR 235 million, an annual drop of 22.95% from SAR 305 million.