SHL Finance Co. posted an 88% profit slump in the first nine months of 2023 to SAR 9.8 million, compared to SAR 80 million in the year-earlier period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Net income from finance commissions | 127.20 | 87.29 | (31.4 %) |
| Net Income | 80.04 | 9.81 | (87.7 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.80 | 0.10 | (87.7 %) |
The nine-month profit was hurt by higher finance costs.
In Q3 2023, net profit tumbled 71% to SAR 4.8 million from SAR 16.38 million in the year-earlier period, due to higher borrowing costs.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Net income from finance commissions | 35.46 | 31.78 | (10.4 %) |
| Net Income | 16.38 | 4.77 | (70.9 %) |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.16 | 0.05 | (70.9 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Net income from finance commissions | 27.71 | 31.78 | 14.7 % |
| Net Income | 2.60 | 4.77 | 83.7 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | 0.03 | 0.05 | 83.7 % |
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