Shares of Saudi poultry processing firm Anaam International Holding Co. surged in early trading after it turned a profit of SR1.6 million ($425,599) in the first half of 2022, against a loss of SR2.4 million in the year-earlier period.
Anaam’s shares topped market gainers, surging 9.94 percent to reach SR20.8 percent at 10:32 a.m. Saudi time.
Anaam attributed its performance to an 84 percent surge in sales and revenue during the first six months of the year to reach SR7.2 million, according to a bourse filing.
Its accumulated losses reached SR7.23 million, representing 2.3 percent of capital, as of June 30, 2022.