Almuneef Company for Trade, Industry, Agriculture and Contracting posted a net profit of SAR 10.5 million for H1 2023, a decline of 11% compared with SAR 11.8 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 149.03 | 124.34 | (16.6 %) |
| Gross Income | 17.43 | 14.18 | (18.6 %) |
| Operating Income | 12.06 | 10.87 | (9.8 %) |
| Net Income | 11.77 | 10.54 | (10.5 %) |
| Average Shares | 3.80 | 3.80 | - |
| EPS (Riyals) | 3.10 | 2.77 | (10.5 %) |
The profit decline was due to the lower profit margin of units resulting from a decrease in the selling price of the main products compared to the cost of purchase.
This led to a fall in the profit margin of the products, which dominate the biggest percentage of the company’s sales.
Shareholders’ equity, no minority interest, stood at SAR 86.98 million as of June 30, 2023, compared to SAR 67.19 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR/share) |
|
H1 2021 |
76.70 |
8.54 |
2.25 |
|
H2 2021 |
111.06 |
11.13 |
2.93 |
|
H1 2022 |
149.03 |
11.77 |
3.10 |
|
H1 2023 |
124.34 |
10.54 |
2.77 |
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