Baazeem net profit up 2% to SAR 13.7 mln in H1 2023; Q2 at SAR 4.7 mln

10/08/2023 Argaam Exclusive
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Baazeem Trading Co. posted a net profit of SAR 13.7 million in H1 2023, 2% up from SAR 13.4 million a year earlier on an increase of 1.43% in sales.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 132.89 134.79 1.4 %
Gross Income 49.68 51.66 4.0 %
Operating Income 15.36 15.88 3.4 %
Net Income 13.44 13.66 1.6 %
Average Shares 101.25 101.25 -
Earnings Per Share before unusual items (Riyals) 0.13 0.13 1.6 %
EPS (Riyals) 0.13 0.13 1.6 %

In Q2 2023, the company reported a 3.7% YoY profit jump to SAR 4.72 million from SAR 4.55 million in Q2 2022, driven by a 1.53% sales uptick and improved cost of goods sold.

 

Sequentially, net profit fell 47.2% from SAR 8.94 million in Q1 2023, attributed to growth in the first-quarter sales due to the Ramadan season.



Current Quarter Comparison (M)

Compared With The
Item Q2 2022 Q2 2023 Change‬
Revenues 58.45 59.35 1.5 %
Gross Income 23.06 24.93 8.1 %
Operating Income 5.29 5.75 8.6 %
Net Income 4.55 4.72 3.7 %
Average Shares 101.25 101.25 -
Earnings Per Share before unusual items (Riyals) 0.04 0.05 3.7 %
EPS (Riyals) 0.04 0.05 3.7 %

Shareholders’ equity, no minority interest, stood at SAR 192.90 million as of June 30, 2023, compared to SAR 189.81 million a year earlier.

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Share Price

6.62
(0.03) (0.45 %)

Baazeem Trading Co. (BAAZEEM)


Current
Market Cap (M Riyal) 670.28
Enterprise Value (EV) (M) 656.62
Shares Outstanding ((M)) 101.25
EPS ( Riyal) (TTM) 0.22
Book Value (BV) ( Riyal) 1.92
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 30.16
P/E (TTM) 30.16
Price/book 3.46
Return on Average Assets (%) (TTM) 9.1
Return on Average Equity (%) (TTM) 11.6

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