Arab News, Thursday, Mar 02, 2023 | Sha'ban 10, 1444
ACWA Power’s net profit zooms 103% to $411m in 2022
Saudi Arabia:
Saudi Arabia’s utility service provider ACWA Power
has reported a net profit of SR1.5 billion ($411 million) in 2022, up 103
percent from the previous year, according to a bourse filing.
In 2021, the PIF-backed firm reported a net profit
of SR758.8 million.
The bourse filing further noted that the company’s
fourth-quarter net profit after Zakat and tax surged 94 percent to SR656.6
million, compared to SR 338.85 million in the prior-year period.
Compared to the third quarter of 2022, ACWA
Power’s net profit climbed 92.2 percent from SR 341.70 million.