Saudi Parts Center Co. (SPC) reported to a marginal rise in H1 2022 net profit after Zakat and tax to SAR 2.84 million, from SAR 2.82 million in the year-earlier period.
| Item | 6m 2021 | 6m 2022 | Change |
|---|---|---|---|
| Revenues | 38.32 | 44.35 | 15.7 % |
| Gross Income | 13.71 | 15.38 | 12.2 % |
| Operating Income | 3.39 | 3.43 | 1.1 % |
| Net Income | 2.82 | 2.84 | 0.8 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | 0.94 | 0.95 | 0.8 % |
The company recorded an increase of SAR 6 million in revenue after seizing more available market opportunities to achieve the company’s targets. Gross profit also grew by SAR 1.7 million, on higher revenue. The slight growth in net profit came despite an increase of SAR 1.7 million in operating expenses (OPEX), due to higher staff costs.
The company also reported higher costs of licenses related to information technology and professional fees incurred on the company’s listing on Nomu-Parallel Market
Shareholders’ equity, after minority interest, reached SAR 37.549 million as of June 30, 2022, up from SAR 31.999 million a year earlier
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