Aqaseem posts 68% rise in 2023 net profit to SAR 10.1M

28/03/2024 Argaam Exclusive

View other reports

Aqaseem Factory for Chemicals and Plastics Co. posted 68% growth in 2023 net profit to SAR 10.1 million, compared to SAR 6 million in the prior-year period.

Financials (M)

Item	2022	2023	Change‬
Revenues	140.51	150.83	7.3 %
Gross Income	29.02	39.27	35.3 %
Operating Income	7.20	12.66	75.8 %
Net Income	6.02	10.14	68.4 %
Average Shares	2.50	2.50	-
EPS (Riyals)	2.41	4.06	68.4 %

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	79.27	76.21	(3.9 %)
Gross Income	16.76	21.46	28.1 %
Operating Income	4.96	6.20	24.9 %
Net Income	4.31	4.37	1.4 %
Average Shares	2.50	2.50	-
EPS (Riyals)	1.72	1.75	1.4 %

Item	H1 2023	H2 2023	Change‬
Revenues	74.62	76.21	2.1 %
Gross Income	17.81	21.46	20.5 %
Operating Income	6.46	6.20	(4.1 %)
Net Income	5.77	4.37	(24.4 %)
Average Shares	2.50	2.50	-
EPS (Riyals)	2.31	1.75	(24.4 %)

The profit rise was spurred by higher sales from the export segment and the addition of the government segment during 2023. This is besides the development of new products that contributed to boosting sales volumes for the year.

Shareholders' equity (no minority interest) rose to SAR 55.97 million, compared to SAR 45.76 million in 2022.

Historical Data
Period	Revenues (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	45.58	3.96	1.58
H2 2021	53.14	3.26	1.31
H1 2022	61.24	1.71	0.69
H2 2022	79.27	4.31	1.72
H1 2023	74.62	5.77	2.31
H2 2023	76.21	4.37	1.75

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×