Balady Poultry Trading Co. reported a net profit of SAR 40.2 million in Q2 2023, compared to SAR 36.2 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 278.61 | 344.56 | 23.7 % |
| Gross Income | 43.73 | 48.56 | 11.0 % |
| Operating Income | 34.02 | 36.85 | 8.3 % |
| Net Income | 36.25 | 40.27 | 11.1 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 5.52 | 6.13 | 11.1 % |
The profit growth was driven by an increase in the average daily production during the current period to 153,000 birds, compared with 120,000 per day a year earlier. The company also cited lower costs.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 155.69 | 167.39 | 7.5 % |
| Gross Income | 31.40 | 20.19 | (35.7 %) |
| Operating Income | 26.58 | 14.05 | (47.1 %) |
| Net Income | 27.26 | 15.94 | (41.5 %) |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 4.15 | 2.43 | (41.5 %) |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 177.17 | 167.39 | (5.5 %) |
| Gross Income | 28.37 | 20.19 | (28.8 %) |
| Operating Income | 22.80 | 14.05 | (38.4 %) |
| Net Income | 24.33 | 15.94 | (34.5 %) |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 3.70 | 2.43 | (34.5 %) |
Shareholders’ equity, with no minority interest, stood at SAR 170.9 billion at the end of H1 2023, compared to SAR 102.3 billion a year before.
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