Lana Medical Co., which is set to be listed on Nomu-Parallel Market, posted a net profit of SAR 5.5 million for 2022, a decline of 17% compared to SAR 6.6 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 31.97 | 40.80 | 27.6 % |
| Gross Income | 16.87 | 18.87 | 11.9 % |
| Operating Income | 7.32 | 6.56 | (10.3 %) |
| Net Income | 6.59 | 5.49 | (16.7 %) |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | 2.20 | 1.83 | (16.7 %) |
The profit decline was attributed to a fall in operating profit margin from 23% to 16% on higher administrative and marketing expenses. This was in addition to lower other income and higher financing charges.
However, revenues increased by 28% to SAR 40.8 million in 2022, compared to SAR 32 million in 2021. Zakat expenses also declined year-on-year (YoY).
Shareholders' equity, no minority interest, totaled SAR 48.42 million by the end of 2022, compared to SAR 41.57 million a year before.
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