Al-Jouf Mineral Water H1 2023 profit falls 18% to SAR 2.3 mln

10/08/2023 Argaam Exclusive

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Al-Jouf Mineral Water Bottling Co. reported a net profit of SAR 2.3 million in H1 2023, a decline of 18% from SAR 2.8 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	36.08	37.49	3.9 %
Gross Income	18.53	19.74	6.5 %
Operating Income	2.91	2.84	(2.5 %)
Net Income	2.81	2.31	(17.8 %)
Average Shares	4.69	4.69	-
EPS (Riyals)	0.60	0.49	(17.8 %)

This was due to an increase in the costs of raw materials and transportation. In addition, general, administrative and marketing expenses edged higher.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	36.08	37.49	3.9 %
Gross Income	18.53	19.74	6.5 %
Operating Income	2.91	2.84	(2.5 %)
Net Income	2.81	2.31	(17.8 %)
Average Shares	4.69	4.69	-
EPS (Riyals)	0.60	0.49	(17.8 %)

Item	H2 2022	H1 2023	Change‬
Revenues	37.89	37.49	(1.1 %)
Gross Income	12.05	19.74	63.8 %
Operating Income	3.83	2.84	(25.9 %)
Net Income	2.93	2.31	(21.3 %)
Average Shares	4.69	4.69	-
EPS (Riyals)	0.63	0.49	(21.3 %)

Shareholders’ equity, no minority interest, stood at SAR 85.47 million as of June 30, 2023, compared to SAR 80.89 million a year earlier.

Development of Financial Figures
Period	Revenue	Net Earnings	EPS
H1 2020	40.66	2.27	0.48
H2 2020	30.97	2.30	0.49
H1 2021	32.53	2.60	0.55
H2 2021	35.10	2.10	0.45
H1 2022	36.08	2.81	0.60
H2 2022	37.9	2.93	0.62
H1 2023	37.5	2.3	0.53

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