AlBabtain Food profit falls 9% to SAR 14.4 mln in 2022

28/03/2023 Argaam Exclusive

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Abdulaziz and Mansour Ibrahim Albabtin Co. (AlBabtain Food) reported a net profit of SAR 14.4 million in 2022, a decline of 9.4% from SAR 15.9 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	127.74	126.89	(0.7 %)
Gross Income	41.43	36.77	(11.2 %)
Operating Income	16.47	10.10	(38.7 %)
Net Income	15.87	14.39	(9.4 %)
Average Shares	3.40	3.40	-
EPS (Riyals)	4.67	4.23	(9.4 %)

This was due to an increase in operating expenses, as well as finance, Zakat and income taxes expenses.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	72.64	64.20	(11.6 %)
Gross Income	24.30	18.59	(23.5 %)
Operating Income	10.36	5.77	(44.3 %)
Net Income	10.09	8.72	(13.6 %)
Average Shares	3.40	3.40	-
EPS (Riyals)	2.97	2.57	(13.6 %)

Item	H1 2022	H2 2022	Change‬
Revenues	62.69	64.20	2.4 %
Gross Income	18.18	18.59	2.3 %
Operating Income	4.33	5.77	33.4 %
Net Income	5.66	8.72	54.0 %
Average Shares	3.40	3.40	-
EPS (Riyals)	1.67	2.57	54.0 %

Total shareholders' equity, no minority interest, reached SAR 59.5 million at the end of 2022, compared with SAR 48.1 million a year earlier.

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