Alkhorayef Water and Power Technologies Co. of Saudi Arabia has posted a 9.3 percent decrease in profit to $27.4 million in its 2021, according to a bourse filing.
Despite an increase in revenues by 9.2 percent to SR569 million during the same period, profits declined due to cost of revenue and “increase in projects on-hand.”
Although profits dropped, the firm’s board of directors approved SR1.5 per share as a dividend for the second half of 2021.
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