Ladun Investment Co. reported a decline of 26% in net profit to SAR 60.2 million in 2022, from SAR 80.8 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 769.82 | 881.18 | 14.5 % |
| Gross Income | 102.85 | 167.06 | 62.4 % |
| Operating Income | 35.88 | 77.43 | 115.8 % |
| Net Income | 80.80 | 60.19 | (25.5 %) |
| Average Shares | 500.00 | 500.00 | - |
| EPS (Riyals) | 0.16 | 0.12 | (25.5 %) |
The profit decline was attributed to recording a non-recurring profit from sale of a subsidiary during last year at a value of SAR 57.58 million.
Excluding the impact of non-recurring profit, the company’s net profit from recurring operations grew by SAR 36.97 million, or 159%.
The company also noted the start of new projects with good profit margins, improvement at on-going projects, efficiency in managing projects’ costs, starting commercial production from new factories.
Total shareholders’ equity, no minority interest, fell to SAR 551.99 million as of Dec. 31, 2022, from SAR 516.69 million a year earlier.
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