Alhasoob profit falls 44% to SAR 6.7 mln in 2022

29/03/2023 Argaam Exclusive

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Share Price

Alhasoob Co.
54.00
(1.70) (3.05 %)

Alhasoob Co. (ALHASOOB)

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Alhasoob Co. reported a 44% drop in 2022 net profit to SAR 6.7 million, from SAR 12 million in 2021.



Financials (M)

Item 2021 2022 Change‬
Revenues 256.46 220.24 (14.1 %)
Gross Income 24.10 20.65 (14.3 %)
Operating Income 12.81 8.20 (36.0 %)
Net Income 11.95 6.66 (44.3 %)
Average Shares 2.80 2.80 -
EPS (Riyals) 4.27 2.38 (44.3 %)

The company attributed the lower profit to a decrease in exports compared to 2021, amid weak demand. It also reported a low rate of profitability, along with higher general and administrative expenses.



Total shareholders’ equity, no minority interest, rose to SAR 35.6 million as of Dec. 31, 2022, from SAR 29.1 million a year earlier.

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