Taiba Investment Co. reported a 47% surge in net profit to SAR 143.5 million for the first nine months of 2023, compared to SAR 97.6 million in the same period a year earlier.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 226.35 | 360.51 | 59.3 % |
| Gross Income | 124.41 | 246.58 | 98.2 % |
| Operating Income | 95.83 | 197.14 | 105.7 % |
| Net Income | 97.63 | 143.51 | 47.0 % |
| Average Shares | 160.46 | 185.46 | 15.6 % |
| EPS (Riyals) | 0.61 | 0.77 | 27.2 % |
The year-on-year (YoY) leap was attributed to the increase in rental and operating revenue on higher occupancy levels after the company’s recovery post-pandemic recovery of the company’s activities and relaxation of restrictions.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 90.87 | 118.44 | 30.3 % |
| Gross Income | 55.64 | 80.59 | 44.8 % |
| Operating Income | 25.75 | 62.78 | 143.8 % |
| Net Income | 42.79 | 53.89 | 25.9 % |
| Average Shares | 160.46 | 185.46 | 15.6 % |
| EPS (Riyals) | 0.27 | 0.29 | 9.0 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 131.12 | 118.44 | (9.7 %) |
| Gross Income | 91.84 | 80.59 | (12.2 %) |
| Operating Income | 75.32 | 62.78 | (16.6 %) |
| Net Income | 27.56 | 53.89 | 95.5 % |
| Average Shares | 185.46 | 185.46 | - |
| EPS (Riyals) | 0.15 | 0.29 | 95.5 % |
Taiba posted a net profit of SAR 53.9 million for Q3 2023, up 26%, compared to SAR 42.7 million in Q3 2022.
Sequentially, the company’s net profit rose 95.5% from SAR 27.5 million in Q2 2023.
Shareholders’ equity, no minority interest, stood at SAR 3.93 billion as of Sept 30, 2023, compared to SAR 3.65 billion a year earlier.
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