Group Five Pipe Saudi Co. swung to a net profit of SAR 9.4 million in 2023 against a net loss of SAR 24.2 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 230.54 | 455.31 | 97.5 % |
| Gross Income | 2.17 | 57.41 | 2549.1 % |
| Operating Income | (9.85) | 40.40 | 510.0 % |
| Net Income | (24.38) | 9.37 | 138.5 % |
| Average Shares | 28.00 | 28.00 | - |
| EPS (Riyals) | (0.87) | 0.33 | 138.5 % |
The positive results were buoyed by higher revenues, thanks to an increase in the company’s sales volume and average selling prices per ton.
Total shareholders’ equity, no minority interest, stood at SAR 324.07 million as of Dec. 31, 2023, up from SAR 313.27 million in the prior-year period.
|
Group Five Interim Financials |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020 |
352.84 |
30.07 |
1.07 |
|
H2 2020 |
563.32 |
53.54 |
1.91 |
|
H1 2021 |
477.82 |
28.83 |
1.03 |
|
H2 2021 |
163.28 |
6.29 |
0.22 |
|
H1 2022 |
58.40 |
(18.73) |
(0.67) |
|
H2 2022 |
172.14 |
(5.65) |
(0.20) |
|
H1 2023 |
311.484 |
9.68 |
0.35 |
|
H2 2023 |
143.824 |
(0.31) |
(0.01) |
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