Financial Results : Knowledge Tower posts 50% profit leap to SAR 5.4 mln in FY2022/23

Knowledge Tower posts 50% profit leap to SAR 5.4 mln in FY2022/23

21/06/2023 Argaam Exclusive

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Knowledge Tower Trading Co. reported a net profit jump of 50% to SAR 5.4 million for the fiscal year ended March 31, 2023, from SAR 3.6 million a year earlier.



Financials (M)

Item 2021 2022 Change‬
Revenues 20.40 29.32 43.7 %
Gross Income 7.62 11.44 50.1 %
Operating Income 4.15 6.09 46.6 %
Net Income 3.58 5.36 49.8 %
Average Shares 17.50 17.50 -
EPS (Riyals) 0.20 0.31 49.8 %

The company attributed the profit growth to a 43.7% rise year-on-year (YoY) in net operating revenue, thanks to higher sales of books and school education tools as students resumed physical attendance this year.

 

By contrast, operating expenses increased.



Current Half Annual Comparison (M)

Compared With The
Item H2 2021 H2 2022 Change‬
Revenues 1.40 8.39 499.1 %
Gross Income 0.75 2.37 214.9 %
Operating Income (0.58) (0.13) 77.4 %
Net Income (1.06) (0.75) 29.4 %
Average Shares 17.50 17.50 -
EPS (Riyals) (0.06) (0.04) 29.4 %

Shareholders’ equity, no minority interest, stood at SAR 24.24 million by the end of the 12-month period, up from SAR 21.07 million a year earlier.

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