KSA’s Tadweeer sees bottom line soaring in 2022 on the back of robust sales

Robust results for Tadweeer: Saudi-based recycling company Tadweeer reported a 61% y-o-y rise in net income in 2022 to SAR 18.1 mn on the back of strong sales, it said in a disclosure to Tadawul. Its revenues jumped 163.4% y-o-y last year to SAR 404.6 mn.

What they said: “Increase in net [income] is primarily due to sales growth of 163% compared to the previous year. Further, effectiveness cost of sales and efficient general and administrative expenses add to the bottom line,” Tadweeer said.