Arab Sea Information System Co. (Arab Sea) narrowed net losses to SAR 9.8 million in 2023, from SAR 10.4 million a year earlier, due to a 0.79% higher revenue year-on-year (YoY) and a 6.24% increase YoY in gross profit.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 40.85 | 41.17 | 0.8 % |
| Gross Income | 19.47 | 20.68 | 6.2 % |
| Operating Income | (9.45) | (8.80) | 6.8 % |
| Net Income | (10.44) | (9.77) | 6.4 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | (0.10) | (0.10) | 6.4 % |
Q4 2023 net profit stood at SAR 7.7 million, versus a net loss of SAR 2.91 million in Q3 2023.
On a sequential basis, the company turned to profit from SAR 5.77 million loss in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 13.65 | 18.97 | 39.0 % |
| Gross Income | 10.18 | 16.91 | 66.1 % |
| Operating Income | (1.42) | 8.36 | 690.1 % |
| Net Income | (2.91) | 7.71 | 364.7 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | (0.03) | 0.08 | 364.7 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 7.36 | 18.97 | 158.0 % |
| Gross Income | 1.11 | 16.91 | 1427.6 % |
| Operating Income | (5.80) | 8.36 | 244.1 % |
| Net Income | (5.77) | 7.71 | 233.6 % |
| Average Shares | 100.00 | 100.00 | - |
| EPS (Riyals) | (0.06) | 0.08 | 233.6 % |
Total shareholders’ equity, no minority interest, stood at SAR 127.04 million by Dec. 31, 2023, compared to SAR 136.28 million a year ago.
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