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Borouge Q2 net profit $193m

The H1 revenue stood at $2.72 billion.

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

BinDawood’s net profit down 50 percent for Q2

By TRENDS Desk
August 15, 2021 12:08 pm
  • The retail supermarket said net profit in the quarter ended June 30 was 95 million riyals ($25.33 million),
  • The second quarter of last year "benefited enormously from pantry-buying in response to lockdowns"

Taking a direct hit from the Covid restrictions, BinDawood, the Saudi supermarket retailer, has reported a 50 percent dip in net profit to $25.33 million for the second quarter of this fiscal.

The retail supermarket said net profit in the quarter ended June 30 was 95 million riyals ($25.33 million), compared with 185.4 million riyals in the same period last year.

“I believe a comparison of the financial performance of H1 2021 with H1 2020 is not very meaningful because of the extenuating circumstances and unprecedented disruption to business caused by the pandemic,” chief executive Ahmad BinDawood, said in a statement on Sunday.

The second quarter of last year “benefited enormously from pantry-buying in response to lockdowns and in the lead-up to the VAT [value-added tax] hike which came into effect from 1 July 2020.”

 

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