Earnings Report /
Saudi Arabia

Tasnee: Strong top-line offset by low associates’ income

  • Revenues stood at SAR1.0bn, up 75.3% yoy (+28.7% qoq) and higher than our estimates of SAR769mn

  • Gross profit stood at SAR250mn, up 249% yoy (+13.9% qoq), higher than our estimates of SAR189mn

  • Operating income came-in at SAR526mn, in-line with our estimates of SAR540mn

Iyad Khalid Ghulam
Iyad Khalid Ghulam

Vice President, Senior Equity Research Analyst

SNB Capital
28 October 2021
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