Knowledge Tower profit drops 16% to SAR 5.1 mln in H1 2023/24

16/11/2023 Argaam Exclusive

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Knowledge Tower Trading Co. reported a net profit drop of 16% to SAR 5.1 million for the six-month period ended Sept. 30, 2023, from SAR 6.1 million a year earlier due to higher operating expenses.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	20.94	21.42	2.3 %
Gross Income	9.07	9.14	0.8 %
Operating Income	6.22	5.23	(15.9 %)
Net Income	6.11	5.13	(16.1 %)
Average Shares	17.50	17.50	-
EPS (Riyals)	0.35	0.29	(16.1 %)

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	20.94	21.42	2.3 %
Gross Income	9.07	9.14	0.8 %
Operating Income	6.22	5.23	(15.9 %)
Net Income	6.11	5.13	(16.1 %)
Average Shares	17.50	17.50	-
EPS (Riyals)	0.35	0.29	(16.1 %)

Item	H2 2022	H1 2023	Change‬
Revenues	8.39	21.42	155.4 %
Gross Income	2.37	9.14	285.5 %
Operating Income	(0.13)	5.23	4098.4 %
Net Income	(0.75)	5.13	785.8 %
Average Shares	17.50	17.50	-
EPS (Riyals)	(0.04)	0.29	785.8 %

Total shareholders’ equity, no minority interest, declined to SAR 24.12 million by the end of the six-month period, from SAR 27.18 million a year earlier.

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