Earnings Report /
Saudi Arabia

Tasnee: Profits drop despite sales growth

  • Revenues stood at SAR1.08bn, up 38.0% yoy (+10.0% qoq) and is higher than our estimates of SAR981mn.

  • Gross profit stood at SAR259mn, up 18.1% yoy (-10.1% qoq), slightly lower than our estimates.

  • Operating income came-in at SAR563mn, down 7.5% yoy (+3.7% qoq) and in-line with our estimates.

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Head of Equity Research

SNB Capital
4 August 2022
Published bySNB Capital


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