Saudi Alkhorayef Water sees 6% increase in H1 profits to $14m

Its net profit reached SR52 million ($14 million), up from SR49 million a year earlier. (Supplied)

RIYADH: Saudi Arabia’s Alkhorayef Water and Power Technologies Co. posted a 6 percent profit increase in the first half owing to revenue growth.

Its net profit reached SR52 million ($14 million), up from SR49 million a year earlier in the prior year period, according to a bourse filing.

The results were boosted by a 34 percent growth in first-half revenues to reach SR357.9 million due to increases in revenue in the water sector by 2.9 percent, and the integrated water solutions sector by 225.8 percent.