Thob Al Aseel Co. reported a 44% leap in its 2023 net profit to SAR 76.9 million from SAR 53.4 million a year ago.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 508.80 | 532.22 | 4.6 % |
| Gross Income | 212.21 | 216.78 | 2.2 % |
| Operating Income | 78.77 | 98.18 | 24.6 % |
| Net Income | 53.44 | 76.92 | 43.9 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.13 | 0.19 | 43.9 % |
The company reported a 4.6% year-on-year (YoY) rise in sales, thanks to a larger customer base. E-commerce sales also saw a spike of 170% YoY in 2023.
The credit loss provision expenses decreased by 44.21% YoY on better collection rates.
The fourth-quarter net profit nearly doubled YoY to SAR 11.5 million from SAR 5.75 million in Q4 2022.
Sequentially, the company’s bottom line skyrocketed 122.6% from SAR 5.16 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 100.44 | 105.51 | 5.0 % |
| Gross Income | 43.43 | 46.79 | 7.7 % |
| Operating Income | 15.32 | 17.10 | 11.7 % |
| Net Income | 5.75 | 11.47 | 99.4 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.01 | 0.03 | 99.4 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 73.13 | 105.51 | 44.3 % |
| Gross Income | 33.76 | 46.79 | 38.6 % |
| Operating Income | 10.41 | 17.10 | 64.3 % |
| Net Income | 5.16 | 11.47 | 122.5 % |
| Average Shares | 400.00 | 400.00 | - |
| EPS (Riyals) | 0.01 | 0.03 | 122.5 % |
Shareholders’ equity, no minority interest, stood at SAR 584.7 million by the end of Dec. 31, 2023, compared to SAR 572.51 million in the year-earlier period.
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