AME profit jumps 44% to SAR 22.2 mln in H1 2023

21/08/2023 Argaam Exclusive

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AME Company for Medical Supplies reported a net profit leap of 44% to SAR 22.2 million in the first half of 2023 from SAR 15.4 million in the prior-year period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	108.35	120.34	11.1 %
Gross Income	48.86	55.69	14.0 %
Operating Income	17.25	24.01	39.2 %
Net Income	15.38	22.20	44.4 %
Average Shares	7.00	7.00	-
EPS (Riyals)	2.20	3.17	44.4 %

The higher profit was driven by a rise of SAR 11.99 million in medical equipment sales.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	108.35	120.34	11.1 %
Gross Income	48.86	55.69	14.0 %
Operating Income	17.25	24.01	39.2 %
Net Income	15.38	22.20	44.4 %
Average Shares	7.00	7.00	-
EPS (Riyals)	2.20	3.17	44.4 %

Item	H2 2022	H1 2023	Change‬
Revenues	84.82	120.34	41.9 %
Gross Income	41.42	55.69	34.4 %
Operating Income	12.72	24.01	88.8 %
Net Income	11.31	22.20	96.3 %
Average Shares	7.00	7.00	-
EPS (Riyals)	1.62	3.17	96.3 %

Shareholders’ equity, no minority interest, reached SAR 115.55 million as of June 30, 2023, up from SAR 96.54 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2020	44.66	4.18	0.60
H2 2020	76.94	16.89	2.41
H1 2021	69.78	7.50	1.07
H2 2021	81.61	13.72	1.96
H1 2022	108.35	15.38	2.20
H2 2022	84.82	11.30	1.61
H1 2023	120.34	22.20	3.17

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