Anaam H1 2023 profit up to SAR 4.1 mln; Q2 at SAR 1.8 mln

10/08/2023 Argaam Exclusive

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Anaam International Holding Group logged a net profit after deducting minority equity of SAR 4.1 million in the first half of 2023, compared with SAR 1.6 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	7.19	22.88	218.2 %
Gross Income	0.47	13.65	2780.6 %
Operating Income	(8.34)	4.63	155.5 %
Net Income	2.89	5.51	90.8 %
Average Shares	630.00	630.00	-
EPS (Halala)	0.46	0.87	90.8 %

This was driven by higher revenues from investment properties and subsidiaries.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	3.97	11.91	200.1 %
Gross Income	0.20	7.27	3609.7 %
Operating Income	(1.96)	2.63	234.1 %
Net Income	(1.15)	2.18	290.1 %
Average Shares	630.00	630.00	-
EPS (Halala)	(0.18)	0.35	290.1 %

Item	Q1 2023	Q2 2023	Change‬
Revenues	10.97	11.91	8.6 %
Gross Income	6.38	7.27	13.9 %
Operating Income	2.01	2.63	30.9 %
Net Income	3.33	2.18	(34.6 %)
Average Shares	630.00	630.00	-
EPS (Halala)	0.53	0.35	(34.6 %)

In Q2 2023, Anaam turned to a net profit of SAR 1.76 million from a net loss of SAR 1.78 million in the prior-year period, for the same reasons above.

Compared with the previous quarter, Anaam's Q2 2023 net earnings dropped 47.1% from SAR 3.33 million.

Total shareholders’ equity, after minority interest, stood at SAR 280 million as of June 30, 2023, compared to SAR 308 million a year earlier.

Accumulated losses reached SAR 34.83 million, representing 11% of capital, as of June 30, 2023.

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