Ladun Investment H1 2023 profit surges to SAR 73.2 mln

23/08/2023 Argaam Exclusive

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Ladun Investment Co.'s net earnings in H1 2023 soared to SAR 73.2 million, compared with SAR 30 million a year earlier.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	513.89	652.13	26.9 %
Gross Income	81.88	147.04	79.6 %
Operating Income	43.16	79.76	84.8 %
Net Income	30.01	73.15	143.7 %
Average Shares	500.00	500.00	-
EPS (Riyals)	0.06	0.15	143.7 %

This was driven by an improvement in the real estate segment, especially as the company's new and ongoing projects have a significant profit margin.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	513.89	652.13	26.9 %
Gross Income	81.88	147.04	79.6 %
Operating Income	43.16	79.76	84.8 %
Net Income	30.01	73.15	143.7 %
Average Shares	500.00	500.00	-
EPS (Riyals)	0.06	0.15	143.7 %

Item	H2 2022	H1 2023	Change‬
Revenues	367.29	652.13	77.6 %
Gross Income	85.18	147.04	72.6 %
Operating Income	34.27	79.76	132.7 %
Net Income	30.18	73.15	142.4 %
Average Shares	500.00	500.00	-
EPS (Riyals)	0.06	0.15	142.4 %

Shareholders’ equity, no minority interest, rose to SAR 602.29 million as of June 30, 2023, from SAR 544.16 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR/Share)
H1 2021	402.40	73.49	0.15
H2 2021	367.42	7.31	0.01
H1 2022	513.89	30.01	0.06
H2 2022	367.29	30.18	0.06
H1 2023	652.13	73.15	0.15

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