Beyon FY22 profit rises 7%, announces dividend

TDT | Manama                      

The Daily Tribune – www.newsofbahrain.com   

Beyon yesterday announced quarterly and full-year 2022 profits, which the company said “reflect continuous efforts in successfully executing its digital transformation strategy, strengthening the core business and international connectivity services.”

The board also recommended a full-year cash dividend of BD53.9M (US$143.0M), at a value of 32.5 fils per share.

Out of which 13.5 fils per share was already paid during the third quarter with the remaining 19.0 fils to be paid following the AGM in March 2023.

Q4 results Fourth quarter net profit attributable to equity holders of the company rose 28% to BD16.2 million (US$43.0m) from BD12.7m (US$33.7m) in the yearago quarter. Earnings per share (EPS) are 9.8 fils compared to 7.7 fils in Q4 2021.

Total comprehensive income attributable to equity holders was at BD22.1m (US$58.6m), a 97% jump from BD11.2m (US$29.7m) in the fourth quarter of 2021, due to higher profit and foreign currency translation differences.

Quarterly revenues rose 1% to BD104.6m (US$277.5m) from BD103.3m (US$274.0m) in Q4 2021.

Operating profit increased by 33% to BD24.0m (US$63.7m) from BD18.1m (US$48.0m) in Q4 2021, while EBITDA stood at BD41.8m (US$110.9m) in Q4 2022 compared to BD37.0m (US$98.1m) in Q4 2021, an increase of 13%.

Full-year results Full-year net profit attributable to equity holders of the company was BD70.3m (US$186.5m), a 7% increase from BD65.9m (US$174.8m) in 2021.