Financial Results : Tadweeer posts 20% profit rise to SAR 10.1 mln in H1 2023

Tadweeer posts 20% profit rise to SAR 10.1 mln in H1 2023

13/08/2023 Argaam Exclusive

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National Environmental Recycling Co. (Tadweeer) recorded a 10% increase in H1 2023 net profit to SAR 10.1 million from SAR 8.5 million in the prior-year period.

The profit growth was buoyed by an around 35% rise year-on-year (YoY) in sales volumes.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 191.69 257.99 34.6 %
Gross Income 14.02 17.14 22.3 %
Operating Income 11.11 13.11 18.0 %
Net Income 8.47 10.15 19.8 %
Average Shares 116.16 116.16 -
Earnings Per Share before unusual items (Riyals) 0.07 0.08 11.0 %
EPS (Riyals) 0.07 0.09 19.8 %

Shareholders’ equity, with no minority interest, declined to SAR 186.14 million as of June 30, 2023, from SAR 146.68 million a year earlier.

 

Historical Data

Period

Revenue

Net Profit

EPS

H1 2021

67.15

9.77

0.17

H2 2021

86.45

1.5

0.03

H1 2022

212.93

8.47

0.15

H2 2022

212.24

9.65

0.17

H1 2023

257.99

10.15

0.17

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