Saudi Top net profit surges 92% to SAR 32.8 mln in 2022

23/03/2023 Argaam Exclusive

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Saudi Top for Trading Co. reported a net profit of SAR 32.8 million for 2022, an increase of 92% from a net profit of SAR 17.1 million in the year-earlier period.

Financials (M)

Item	2021	2022	Change‬
Revenues	191.77	186.54	(2.7 %)
Gross Income	35.75	54.08	51.3 %
Operating Income	18.05	33.95	88.1 %
Net Income	17.10	32.26	88.7 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.43	0.81	88.7 %

This was fostered by lower average cost of raw materials and higher average selling prices.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	98.84	80.75	(18.3 %)
Gross Income	20.64	19.61	(4.9 %)
Operating Income	11.03	9.82	(10.9 %)
Net Income	10.48	8.86	(15.5 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	0.26	0.22	(15.5 %)

Item	H1 2022	H2 2022	Change‬
Revenues	105.80	80.75	(23.7 %)
Gross Income	34.46	19.61	(43.1 %)
Operating Income	24.12	9.82	(59.3 %)
Net Income	23.40	8.86	(62.2 %)
Average Shares	40.00	40.00	-
EPS (Riyals)	0.59	0.22	(62.2 %)

Shareholders’ equity, no minority interest, reached SAR 85.41 million as of Dec. 31, 2022, compared to SAR 58.71 million in a prior year period.

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