Al Rashid Industrial Co. posted a net profit of SAR 10.6 million in H1 2023, a 35% increase from SAR 7.4 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 55.68 | 67.16 | 20.6 % |
| Gross Income | 16.27 | 21.28 | 30.8 % |
| Operating Income | 7.39 | 11.19 | 51.4 % |
| Net Income | 7.83 | 10.55 | 34.7 % |
| Average Shares | 8.00 | 8.00 | - |
| EPS (Riyals) | 0.98 | 1.32 | 34.7 % |
The profit increase is driven by a rise of 30.79% in gross profit due to higher revenues through sales of various production lines as well as items and products added during the period with an increase in the coverage of local markets.
This is in addition to lower raw material prices compared to the same period last year.
Shareholders’ equity, no minority interest, stood at SAR 111.59 million as of June 30, 2023, compared to SAR 98.59 million a year earlier.
|
Semi-Annual Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR/share) |
|
H1 2022 |
55.68 |
7.83 |
0.98 |
|
H2 2022 |
61.01 |
8.72 |
1.09 |
|
H1 2023 |
67.16 |
10.55 |
1.32 |
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