United Mining Industries Co., slated to list on Nomu-Parallel Market, posted a SAR 32 million profit for 2022, an increase of 66% from SAR 19.3 million in 2021.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 190.78 | 241.81 | 26.8 % |
| Gross Income | 43.85 | 55.57 | 26.7 % |
| Operating Income | 24.72 | 37.70 | 52.5 % |
| Net Income | 19.32 | 32.04 | 65.9 % |
| Average Shares | 14.00 | 14.00 | - |
| EPS (Riyals) | 1.38 | 2.29 | 65.9 % |
The profit increase was driven by a 26% year-on-year (YoY) rise in revenues to SAR 241.8 million and a decrease in administrative and general expenses. On the other hand, operating profit margin increased 13% YoY.
Financing costs rose to SAR 5.1 million in 2022 from SAR 3.7 million in 2021.
Shareholders' equity, no minority interest, reached SAR 165.41 million by the end of 2022, compared to SAR 148.66 million a year earlier.
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