The National Co. for Glass Industries (Zoujaj) reported a 54% decline in net profit to SAR 47.9 million for 2023, compared to SAR 104.3 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 112.32 | 153.92 | 37.0 % |
| Gross Income | 3.43 | 35.19 | 925.2 % |
| Operating Income | (11.30) | 18.05 | 259.7 % |
| Net Income | 104.33 | 47.88 | (54.1 %) |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 3.17 | 1.46 | (54.1 %) |
The profit decline was attributed to lower profit share from the company’s joint venture in the float glass segment due to maintenance and development at Saudi Guardian International Float Glass Company Limited in Jubail. This was partially offset by higher operating profit in glass container segment.
This came despite an increase in revenue due tohigher prices and sale quantities.
The fourth-quarter net profit surged124.6% to SAR 26.21 million from SAR 11.67 million in Q4 2022.
Sequentially, the Q4 bottom line grew significantly from SAR 12.72 million.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 30.89 | 39.44 | 27.7 % |
| Gross Income | (2.86) | 9.09 | 418.2 % |
| Operating Income | (7.28) | 2.50 | 134.3 % |
| Net Income | 11.67 | 26.19 | 124.4 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.35 | 0.80 | 124.4 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 37.99 | 39.44 | 3.8 % |
| Gross Income | 8.65 | 9.09 | 5.1 % |
| Operating Income | 5.36 | 2.50 | (53.3 %) |
| Net Income | 12.72 | 26.19 | 105.8 % |
| Average Shares | 32.90 | 32.90 | - |
| EPS (Riyals) | 0.39 | 0.80 | 105.8 % |
Shareholders’ equity, no minority interest, stood at SAR 721.6 million by the end of Dec. 31, 2023, compared to SAR 691.7 million in the year-earlier period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}