Saudi Arabia's "Jamjoom Pharmaceutical Factory" will distribute 154 million riyals in cash dividends to shareholders for the first half of this year, after its board of directors decided so, according to the company's announcement on Wednesday in a disclosure on "Tadawul".

The share's portion of the dividends is 2.2 riyals, as the profits are distributed over 70 million shares, with a distribution ratio to the nominal value of the share at 22%.

The company's net profit fell in the second quarter by 18.2% year-on-year, with a decline in revenues and an increase in selling and distribution expenses due to increased employment and promotional activities during the quarter.

In the first half, net profit rose by 5.8% to 305.8 million riyals, supported by revenue growth and expansion of the gross profit margin.

This was partially offset by higher operating expenses due to increased commercial employment and promotional activities, the negative impact of foreign exchange rate changes compared to gains in the same period last year, and a decrease in the share of profit from the joint venture.