IHR 2022 net profit rises by 75% to SAR 4.3 mln

30/03/2023 Argaam Exclusive

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International Human Resources Co.’s (IHR) 2022 net profit jumped by 75% to SAR 4.3 million from SAR 2.5 million a year earlier, on lower operational costs on the localization support programs. The company also indicated that last year results included provisions for doubtful debt at SAR 2.2 million.

Financials (M)

Item	2021	2022	Change‬
Revenues	77.99	77.23	(1.0 %)
Gross Income	15.67	16.23	3.6 %
Operating Income	3.21	6.74	109.8 %
Net Income	2.46	4.30	75.0 %
Average Shares	50.00	50.00	-
EPS (Halala)	4.92	8.60	75.0 %

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	36.58	38.04	4.0 %
Gross Income	6.77	7.24	6.9 %
Operating Income	0.02	4.34	19616.4 %
Net Income	(0.54)	0.58	207.5 %
Average Shares	50.00	50.00	-
EPS (Halala)	(1.09)	1.17	207.5 %

Item	H1 2022	H2 2022	Change‬
Revenues	39.20	38.04	(3.0 %)
Gross Income	8.99	7.24	(19.5 %)
Operating Income	2.40	4.34	80.8 %
Net Income	3.72	0.58	(84.3 %)
Average Shares	50.00	50.00	-
EPS (Halala)	7.43	1.17	(84.3 %)

Total shareholders’ equity, no minority interest, reached SAR 39.79 million by the end of 2022, compared to SAR 18.97 million a year earlier.

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