Rawasi Albina H1 net profit jumps 59.77% to SAR 15.12 ml

02/08/2023 Argaam Exclusive

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Rawasi Albina Investment Co. reported a net profit of SAR 15.12 million in the first half of 2023, a jump of 59.77% compared to SAR 9.46 million in the same period a year earlier.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	55.39	94.20	70.1 %
Gross Income	16.28	24.65	51.4 %
Operating Income	13.04	20.91	60.3 %
Net Income	9.47	15.13	59.8 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.17	0.28	59.8 %

This was spurred by higher revenues and remarkable growth in infrastructure and telecom projects.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	55.39	94.20	70.1 %
Gross Income	16.28	24.65	51.4 %
Operating Income	13.04	20.91	60.3 %
Net Income	9.47	15.13	59.8 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.17	0.28	59.8 %

Item	H2 2022	H1 2023	Change‬
Revenues	79.84	94.20	18.0 %
Gross Income	21.27	24.65	15.9 %
Operating Income	17.95	20.91	16.5 %
Net Income	11.43	15.13	32.3 %
Average Shares	55.00	55.00	-
EPS (Riyals)	0.21	0.28	32.3 %

Shareholders’ equity, after deducting minority interest, reached SAR 130.03 million as of June 30, 2023, compared to SAR 102.49 million in a year earlier period.

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