Tanmiah 9M 2023 profit drops 22% to SAR 49.6 mln; Q3 at SAR 17.2 mln

05/11/2023 Argaam Exclusive

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Tanmiah Food Co.
114.20
(2.60) (2.23 %)

Tanmiah Food Co. (TANMIAH)

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Tanmiah Food Co.’s net profit declined 22% to SAR 49.6 million in the first nine months of 2023, from SAR 63.5 million in the prior-year period.

 

The third-quarter net profit fell by 46% to SAR 17.2 million from SAR 31.7 million in Q3 2022.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Revenues 1,248.26 1,516.87 21.5 %
Gross Income 300.97 343.26 14.1 %
Operating Income 61.00 78.70 29.0 %
Net Income 63.48 49.57 (21.9 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 3.17 2.48 (21.9 %)


Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Revenues 471.54 533.74 13.2 %
Gross Income 121.31 117.37 (3.2 %)
Operating Income 35.15 28.65 (18.5 %)
Net Income 31.74 17.17 (45.9 %)
Average Shares 20.00 20.00 -
EPS (Riyals) 1.59 0.86 (45.9 %)

Total shareholders’ equity, no minority interest, increased to SAR 594 million as of Sept. 30, 2023, from SAR 409.59 million in the year-earlier period.

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