Saudi Top reports SAR 3.2 mln profit in H1 2023

09/08/2023 Argaam Exclusive

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Saudi Top for Trading Co.
6.50
0.00 0.00 %

Saudi Top for Trading Co. (SAUDI TOP)

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Saudi Top for Trading Co. reported a net profit of SAR 3.2 million in H1 2023, a decline of 87% from SAR 23.4 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 105.80 67.66 (36.1 %)
Gross Income 34.46 10.53 (69.4 %)
Operating Income 24.12 3.79 (84.3 %)
Net Income 23.40 3.16 (86.5 %)
Average Shares 40.00 40.00 -
EPS (Riyals) 0.59 0.08 (86.5 %)

This was driven by the slowdown in the global petrochemical markets, which led to lower selling prices for most products and a decline in the quantities sold resulting in lower revenue.



Total shareholders’ equity, no minority interest, reached SAR 74.17 million as of June 30, 2023, compared to SAR 76.11 million a year earlier.

 

  Development of Financial Statements                                          

Period

Revenue

Net Profit

EPS

H1 2021

92.93

6.62

1.66

H1 2021

98.84

10.48

2.61

H1 2022

105.80

23.40

5.85

H1 2022

80.74

9.38

2.34

H1 2023

67.66

3.16

0.79
 

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