International Human Resources Co. (IHR) posted a 56% drop in H1 2023 net profit to SAR 1.7 million from SAR 3.7 million in H1 2022.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 39.20 | 47.82 | 22.0 % |
| Gross Income | 8.99 | 8.79 | (2.3 %) |
| Operating Income | 2.40 | 2.37 | (1.2 %) |
| Net Income | 3.72 | 1.65 | (55.5 %) |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Halala) | 7.43 | 3.31 | (55.5 %) |
The first-half earnings were impacted by higher operating expenses (OpEx) due to some changes in the medical insurance regulations. IHR reported higher finance costs, compared to H1 2022, when the company benefited from the extended payments program during the COVID-19 pandemic.
On the other hand, revenues grew by 22% year-on-year (YoY), while general and administrative expenses dropped by 12.65% YoY in H1 2023.
Total shareholders’ equity, no minority interest, reached SAR 41.45 million as of June 30, 2023, compared to SAR 22.70 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
41.41 |
3.00 |
0.06 |
|
H2 2021 |
36.58 |
(0.54) |
(0.01) |
|
H1 2022 |
39.20 |
3.72 |
0.07 |
|
H2 2022 |
38.03 |
0.58 |
0.02 |
|
H1 2023 |
47.82 |
1.65 |
0.03 |
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