Saudi Arabia’s L'Azurde plans to float 30% of shares

03/03/2016 Argaam

L'Azurde, Saudi Arabia’s largest gold and jewelry designer, manufacturer and distributor, is planning to float around 30 percent of capital, or 12.9 million shares, in an initial public offering (IPO) later this year.

 

The family-owned company reported SAR 100.6 million earnings in 2015, compared to SAR 86.3 million in 2014, on a 4 percent rise in revenues and foreign exchange gains of SAR 7 million.

 

Income Statement (SAR mln)

Period

2014

2015

Change

Revenue

2717.0

2814.2

+4%

Net profit

86.3

100.6

+17%

Average number of shares (million)

43

43

--

Earnings per share (SAR/share)

2.01

2.34

+17%

 

 Revenues by Country (SAR mln)

Egypt

1606.2

1380.2

(2%)

Saudi Arabia

952.9

1084.9

+14%

Emirates

357.9

335.5

(6%)

Qatar

--

13.6

--

 

Budget Items (SAR mln)

Item

2014

2015

Change

Cash

283.6

290.1

 +2%

Assets

1637.4

1767.4

 +8%

Short-term loans

1049.6

1114.8

+6%

Liabilities

1154.2

1276.4

+11%

Shareholders’ equity

483.2

491.0

+2%

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