Arabian Contracting Services Co. (Al Arabia) reported a net profit of SAR 274.7 million for 2022, a leap of 33% compared to SAR 206.3 million in the previous year.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 720.63 | 1,126.18 | 56.3 % |
| Gross Income | 330.28 | 486.99 | 47.4 % |
| Operating Income | 261.33 | 383.96 | 46.9 % |
| Net Income | 206.25 | 274.70 | 33.2 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 4.12 | 5.49 | 33.2 % |
The profit growth was due to a 56% year-on-year (YoY) rise in revenue to SAR 1.13 billion. This reflected the company’s continuation of digital transformation and commitment to its strategic goals.
Sticking to the digital transformation plan contributed to the growth in client base and advertising spaces available to the company. This, in turn, increased its capacity to accommodate more advertising campaigns.
The company reported a net profit of SAR 81.13 million in Q4 2022, a 14.9% increase from SAR 70.60 million in Q4 2021.
On a sequential basis, net profit grew 23.1% from SAR 65.89 million in Q3 2022.
| Item | Q4 2021 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 226.13 | 317.43 | 40.4 % |
| Gross Income | 107.32 | 145.57 | 35.6 % |
| Operating Income | 89.90 | 112.78 | 25.5 % |
| Net Income | 70.60 | 81.13 | 14.9 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 1.41 | 1.62 | 14.9 % |
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 257.72 | 317.43 | 23.2 % |
| Gross Income | 106.05 | 145.57 | 37.3 % |
| Operating Income | 85.49 | 112.78 | 31.9 % |
| Net Income | 65.89 | 81.13 | 23.1 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 1.32 | 1.62 | 23.1 % |
Total shareholders’ equity, no minority interest, reached SAR 819.87 million as of Dec. 31, 2022, from SAR 731.27 million a year earlier.
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