Riyadh – Mubasher: BinDawood Holding Company registered net profits after Zakat and tax worth SAR 62.11 million during the first quarter (Q1) of 2021, lower by 50.8% from the SAR 126.25 million registered in Q1-20.

Profit per share stood at SAR 0.54 in Q1-21, compared with SAR 1.1 in Q1-20, according to the interim income statements.

Revenues totalled SAR 1.12 billion in the first three months of 2021, down 20% year-on-year (YoY) from SAR 1.41 billion.

Quarter-on-quarter (QoQ), BinDawood’s net profits increased 8.23% from SAR 57.39 million in the fourth quarter (Q4) of 2020.

Revenues went up 1% in Q1-21 compared to SAR 1.11 billion in Q4-20.

The holding company said its current assets increased 6.1% in Q1-21 due to higher receivables and cash balances.

Over the past year, BinDawood’s net profits grew 6.82% to SAR 447.722 million from SAR 419.136 million in 2019.