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BinDawood’s H1 profit tumbles

The company attributed the weak figures to lower gross profit and higher operating expenses. (Asia Newsday)
By TRENDS Desk
August 24, 2022 1:18 pm
  • The company's board proposed a half-year cash dividend payout of $27 million at SR0.9 per share
  • Its sales and revenues surpassed $640 million during the first half of the current year

BinDawood Holding Company has reported a 31 percent dip in H1 profit to $28.80 million, compared with the profit of $41.86 million for the same period of the last year.

The company said the weak figures resulted from a dip in gross profit and and an increase in operating expenses.

The company’s board proposed a half-year cash dividend payout of $27 million at SR0.9 per share, bourse filings show.

Its sales and revenues surpassed $640 million during the six-month period.

The company CEO, Ahmad BinDawood, said.“Our strong start to the year in terms of sales has been driven by a return of pilgrims for Hajj and Umrah, coupled with marketing and promotions carried out during Ramadan and Back to School seasons.”

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