TAM’s net profit rises 45% to SAR 40.6M in 2023

27/03/2024 Argaam Exclusive

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Share Price

Tam Development Co.
210.00
9.00 4.48 %

Tam Development Co. (TAM DEVELOPMENT)

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TAM Development Co. reported a net profit of SAR 40.6 million for 2023, a 45% jump from SAR 27.9 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 147.07 188.40 28.1 %
Gross Income 54.82 89.76 63.7 %
Operating Income 30.05 43.31 44.1 %
Net Income 27.93 40.60 45.4 %
Average Shares 3.66 3.66 -
EPS (Riyals) 7.63 11.09 45.4 %

This was spurred by a 28.1% increase year-on-year (YoY) in revenue, 63.7% growth YoY in gross profit and a 46.9% rise in operating profit.



Total shareholders’ equity, no minority interest, stood at SAR 109.76 million by Dec. 31, 2023, compared to SAR 71.62 million a year ago.

 

Historical Data

Period

Revenue (SAR mln)

Net profit (SAR mln)

EPS (SAR /share)

H1 2021

25.10

2.81

0.77

H2 2021

64.75

13.71

3.75

H1 2022

38.26

2.37

0.65

H2 2022

108.81

25.56

6.98

H1 2023

62.811

4.76

1.30

H2 2023

125.59

35.84

9.79

 

View more financial results

 

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