Balady Poultry Trading Co. reported a net profit of SAR 85.1 million in 2022, compared to SAR 20.5 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 357.50 | 641.28 | 79.4 % |
| Gross Income | 27.94 | 96.45 | 245.2 % |
| Operating Income | 15.96 | 76.20 | 377.4 % |
| Net Income | 20.54 | 85.10 | 314.3 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 3.13 | 12.95 | 314.3 % |
The higher profit was driven by an increase of 79.87% year-on-year (YoY) in sales and revenue to SAR 653 million in 2022 on higher production.
The company achieved an average daily production of 133,000 birds per day in 2022, compared to about 87,000 birds per day in 2021.
| Item | Q4 2021 | Q4 2022 | Change |
|---|
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 174.76 | 187.91 | 7.5 % |
| Gross Income | 30.48 | 22.24 | (27.0 %) |
| Operating Income | 25.77 | 16.40 | (36.3 %) |
| Net Income | 29.83 | 19.02 | (36.2 %) |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 4.54 | 2.89 | (36.2 %) |
Shareholders’ equity, no minority interest, stood at SAR 137.18 million as of Dec. 31, 2022, compared to SAR 70.90 million in the year-earlier period.
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