Rawasi Albina posts 6% decline in H1 2022 net profit to SAR 9.5 mln

05/09/2022 Argaam Exclusive

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Rawasi Albina Investment Co. reported to a 6% decline in net profit after Zakat and tax to SAR 9.5 million in H1 2022, from SAR 10.1 million in the year-earlier period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	45.45	55.39	21.9 %
Gross Income	14.31	16.28	13.7 %
Operating Income	11.72	13.04	11.3 %
Net Income	10.08	9.47	(6.0 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.18	0.17	(6.0 %)

The lower profit was attributed to higher material costs, general and administrative expenses (G&A), as well as finance costs.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	45.45	55.39	21.9 %
Gross Income	14.31	16.28	13.7 %
Operating Income	11.72	13.04	11.3 %
Net Income	10.08	9.47	(6.0 %)
Average Shares	55.00	55.00	-
EPS (Riyals)	0.18	0.17	(6.0 %)

Item	H2 2021	H1 2022	Change‬
Revenues	50.09	55.39	10.6 %
Gross Income	15.70	16.28	3.7 %
Operating Income	12.25	13.04	6.4 %
Net Income	7.41	9.47	27.8 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.13	0.17	27.8 %

Shareholders’ equity, after minority interest, reached SAR 102.492 million as of June 30, 2022, up from SAR 85.575 million a year earlier.

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