Al Hassan Ghazi Ibrahim Shaker Co. posted a leap of 99% in net profit to SAR 65.4 million in 2023, compared to SAR 32.8 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 1,037.23 | 1,236.24 | 19.2 % |
| Gross Income | 237.64 | 317.76 | 33.7 % |
| Operating Income | 38.31 | 86.96 | 127.0 % |
| Net Income | 32.83 | 65.43 | 99.3 % |
| Average Shares | 48.23 | 48.23 | - |
| EPS (Riyals) | 0.68 | 1.36 | 99.3 % |
The positive performance is driven by an increase in revenue of 19.19% or SAR 1.24 billion year-on-year (YoY) from SAR 1.04 billion in 2022.
In 2023 gross profit came in at SAR 317.76 million, an increase of 33.71% YoY from SAR 237.64 million in 2022. Accordingly, the gross profit margins improved from 22.91% in 2022 to 25.70% in 2023, reinforcing the company’s strong financial health.
Meanwhile, income from operations reached SAR 89.15 million by the end of 2023, a rise of 110.48% YoY from SAR 42.36 million in 2022.
In Q4 2023, Shaker reported a net profit of SAR 4 million against a loss of SAR 2.11 million in Q4 2022.
Bottom line, however, fell by 76.2% quarter-on-quarter (QoQ) from SAR 16.77 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 210.03 | 259.56 | 23.6 % |
| Gross Income | 53.27 | 75.06 | 40.9 % |
| Operating Income | 2.26 | 21.33 | 843.4 % |
| Net Income | (2.11) | 4.00 | 289.9 % |
| Average Shares | 48.23 | 48.23 | - |
| EPS (Riyals) | (0.04) | 0.08 | 289.9 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 322.72 | 259.56 | (19.6 %) |
| Gross Income | 81.36 | 75.06 | (7.7 %) |
| Operating Income | 18.68 | 21.33 | 14.2 % |
| Net Income | 16.77 | 4.00 | (76.2 %) |
| Average Shares | 48.23 | 48.23 | - |
| EPS (Riyals) | 0.35 | 0.08 | (76.2 %) |
Total shareholders’ equity, no minority interest, stood at SAR 717.7 million as of Dec. 31, 2023, compared to SAR 654.2 million a year earlier.
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