Lazurde Company for Jewelry reported a net profit of SAR 30.8 million for 2023, a slump of 10% from SAR 34.2 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 1,999.63 | 1,916.96 | (4.1 %) |
| Gross Income | 327.04 | 299.91 | (8.3 %) |
| Operating Income | 85.61 | 83.12 | (2.9 %) |
| Net Income | 34.16 | 30.83 | (9.7 %) |
| Average Shares | 57.50 | 57.50 | - |
| EPS (Riyals) | 0.59 | 0.54 | (9.7 %) |
This was attributed to a decline of 4.1% in revenues, including gold, to SAR 1.9 billion in 2023, compared to SAR 1.99 billion in the year before.
The group’s operating revenue amounted to SAR 471.6 million in 2023, down 9.1% from SAR 518.7 million a year ago. This was mainly due to the realization of the Egyptian division’s revenues at a low exchange rate.
Q4 2023 loss reached SAR 12.7 million, versus a net profit of SAR 2.75 million in the prior-year period.
On a quarterly basis, the company turned to losses from net earnings of SAR 24.58 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 387.12 | 364.96 | (5.7 %) |
| Gross Income | 68.98 | 66.32 | (3.9 %) |
| Operating Income | 14.13 | 12.76 | (9.7 %) |
| Net Income | 2.75 | (12.63) | (560.0 %) |
| Average Shares | 57.50 | 57.50 | - |
| EPS (Riyals) | 0.05 | (0.22) | (560.0 %) |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 577.84 | 364.96 | (36.8 %) |
| Gross Income | 83.66 | 66.32 | (20.7 %) |
| Operating Income | 26.55 | 12.76 | (51.9 %) |
| Net Income | 24.58 | (12.63) | (151.4 %) |
| Average Shares | 57.50 | 57.50 | - |
| EPS (Riyals) | 0.43 | (0.22) | (151.4 %) |
Total shareholders’ equity, no minority interest, grew to SAR 360.5 million by Dec. 31, 2023, compared to SAR 389.5 million a year ago.
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