Alhasoob Co. reported a 58% slump in H1 2023 net profit to SAR 1.4 million, from SAR 3.4 million in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 99.12 | 105.89 | 6.8 % |
| Gross Income | 11.06 | 6.58 | (40.5 %) |
| Operating Income | 4.12 | 2.06 | (50.1 %) |
| Net Income | 3.42 | 1.43 | (58.2 %) |
| Average Shares | 2.80 | 2.80 | - |
| EPS (Riyals) | 1.22 | 0.51 | (58.2 %) |
The half-year earnings slump was attributed to a fall of 40.5% year-on-year (YoY) in gross profit, due to selling price discounts to drive sales, especially on computers, amid oversupply, market competition and low product profit rates.
On the other hand, sales grew by 6.8% YoY, thanks to better printer and ink sales.
Total shareholders’ equity, no minority interest, rose to SAR 36.98 million as of June 30, 2023, from SAR 32.48 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020 |
120.74 |
4.60 |
1.64 |
|
H2 2020 |
134.63 |
6.44 |
2.30 |
|
H1 2021 |
110.18 |
5.67 |
2.03 |
|
H1 2022 |
146.28 |
6.28 |
2.24 |
|
H1 2022 |
99.12 |
3.42 |
1.22 |
|
H2 2022 |
121.12 |
3.24 |
2.31 |
|
H1 2023 |
105.89 |
1.43 |
0.51 |
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