Taiba profit jumps 63% to SAR 89.6 mln in H1 2023; Q2 at SAR 27.6 mln

13/08/2023 Argaam Exclusive

View other reports

Taiba Investment Co.’s net profit jumped 63% to SAR 89.6 million in H1 2023, from SAR 54.8 million in the prior-year period as occupancy and revenues edged higher on post-pandemic recovery of the company’s activities.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	133.73	242.07	81.0 %
Gross Income	68.77	165.99	141.4 %
Operating Income	70.07	138.41	97.5 %
Net Income	54.84	89.63	63.4 %
Average Shares	160.46	185.46	15.6 %
EPS (Riyals)	0.34	0.48	41.4 %

The company’s net profit slumped 20% year-on-year to SAR 27.6 million in Q2 2023, due to the net loss realized as Taiba exited a subsidiary, which was classified in 2022 as an asset held-for-sale.

On a sequential basis, net profit dropped 55.6% from SAR 62.06 million in Q1 2023.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	81.17	131.12	61.5 %
Gross Income	46.71	91.84	96.6 %
Operating Income	49.41	77.00	55.8 %
Net Income	34.50	27.56	(20.1 %)
Average Shares	160.46	185.46	15.6 %
EPS (Riyals)	0.21	0.15	(30.9 %)

Item	Q1 2023	Q2 2023	Change‬
Revenues	110.96	131.12	18.2 %
Gross Income	74.15	91.84	23.8 %
Operating Income	61.41	77.00	25.4 %
Net Income	62.06	27.56	(55.6 %)
Average Shares	185.46	185.46	-
EPS (Riyals)	0.33	0.15	(55.6 %)

Shareholders’ equity, no minority interest, stood at SAR 3.85 billion as of June 30, 2023, compared to SAR 3.59 billion a year earlier.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×