Anaam International Holding Group reported a 44% decline in net profit to SAR 6.1 million for the first nine months of 2023, compared to SAR 11 million in the prior-year period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 17.79 | 39.78 | 123.5 % |
| Gross Income | 6.65 | 22.37 | 236.7 % |
| Operating Income | (7.36) | 5.54 | 175.2 % |
| Net Income | 11.00 | 6.14 | (44.1 %) |
| Average Shares | 630.00 | 630.00 | - |
| EPS (Halala) | 1.75 | 0.98 | (44.1 %) |
The year-on-year (YoY) profit decline was as a result of higher financing costs and lower profit from investment properties revaluation.
The third-quarter net profit fell 92% to SAR 634,000 from SAR 8.11 million in Q3 2022.
Sequentially, the Q3 bottom line dropped 70.9% from SAR 2.18 million.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 10.61 | 14.69 | 38.5 % |
| Gross Income | 6.17 | 9.20 | 49.1 % |
| Operating Income | 0.98 | 2.89 | 194.0 % |
| Net Income | 8.11 | 0.63 | (92.2 %) |
| Average Shares | 630.00 | 630.00 | - |
| EPS (Halala) | 1.29 | 0.10 | (92.2 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 13.00 | 14.69 | 13.0 % |
| Gross Income | 6.98 | 9.20 | 31.9 % |
| Operating Income | 1.68 | 2.89 | 71.9 % |
| Net Income | 2.18 | 0.63 | (70.9 %) |
| Average Shares | 630.00 | 630.00 | - |
| EPS (Halala) | 0.35 | 0.10 | (70.9 %) |
Shareholders’ equity, excluding minority interest, contracted to SAR 281 million by the end of Sept. 30, 2023, compared to SAR 316 million in the year-earlier period.
Accumulated losses reached SAR 34.19 million at the end of the nine-month period, representing 11% of the company’s capital.
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