Anaam International Holding Group reported a net profit of SAR 2.3 million for Q1 2023, a decline of 38% from SAR 3.8 million in the year-earlier period.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 3.22 | 12.09 | 275.6 % |
| Gross Income | 0.28 | 6.20 | 2128.4 % |
| Operating Income | (6.39) | 0.96 | 115.0 % |
| Net Income | 4.03 | 3.33 | (17.4 %) |
| Average Shares | 622.01 | 630.00 | 1.3 % |
| EPS (Halala) | 0.65 | 0.53 | (18.4 %) |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 10.32 | 12.09 | 17.1 % |
| Gross Income | 6.84 | 6.20 | (9.5 %) |
| Operating Income | (7.40) | 0.96 | 112.9 % |
| Net Income | (39.32) | 3.33 | 108.5 % |
| Average Shares | 630.00 | 630.00 | - |
| EPS (Halala) | (6.24) | 0.53 | 108.5 % |
This was due to low earnings achieved from the net present value gain of short-term investments, and higher financing cost for the current quarter compared to the same quarter of 2022.
Sequentially, the company turned to a profit from a loss of SAR 40.21 million in Q4 2022, due to the loss incurred in stock trading and impairment of goodwill associated with the subsidiaries for the last quarter.
Total shareholders’ equity, after minority interest, stood at SAR 283.80 million as of March 31, 2023, increasing from SAR 105.08 million a year earlier.
Accumulated losses as of March 31, 2023, reached SAR 37 million, representing 11.7% of capital.
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