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

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 -
Earnings Per Share before unusual items (Riyals) 0.43 0.81 88.7 %
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 -
Earnings Per Share before unusual items (Riyals) 0.26 0.22 (15.5 %)
EPS (Riyals) 0.26 0.22 (15.5 %)

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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