Saudi Industrial Investment Group sees 36% decline in profit to $138n in H1

RIYADH: Saudi Industrial Investment Group’s profits for the first half of 2022 declined 36 percent to SR519 million ($138 million).

The profit was down from SR811 million in the same period a year ago, a bourse filing shows.

SIIG attributed the lower profit to increased feedstock costs in jointly managed projects, as well as increased Zakat expenses and general and administrative expenses.