Financial Results : Leen Alkhair profits down 26% to SAR 8 mln in H1 2023

Leen Alkhair profits down 26% to SAR 8 mln in H1 2023

31/08/2023 Argaam Exclusive

View other reports

Leen Alkhair Trading Co.’s net profit retreated 26% to SAR 8 million in H1 2023 from SAR 10.8 million a year earlier.  



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 109.59 117.72 7.4 %
Gross Income 18.81 15.16 (19.4 %)
Operating Income 11.83 8.84 (25.3 %)
Net Income 10.84 7.98 (26.4 %)
Average Shares 7.34 8.16 11.1 %
EPS (Riyals) 1.48 0.98 (33.8 %)

The company attributed the decrease in profit to higher costs of purchasing fruits and vegetables as well as an increase in shipping, packaging, and transportation costs.

 

This was despite an increase in the sales of vegetables and fruits by 7% year-on-year (YoY) to SAR 118 million.

 

Higher sales were supported by increased sales volume and prices of fruits and vegetables, in addition to an improvement in distribution channels. This was offset by a 14% increase YoY in sales costs because of higher transportation and shipping costs.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 109.59 117.72 7.4 %
Gross Income 18.81 15.16 (19.4 %)
Operating Income 11.83 8.84 (25.3 %)
Net Income 10.84 7.98 (26.4 %)
Average Shares 7.34 8.16 11.1 %
EPS (Riyals) 1.48 0.98 (33.8 %)

Total shareholders’ equity, no minority interest, reached SAR 142.23 million by the end of June 30, 2023, compared to SAR 95.15 million a year earlier.

 

                                                                  Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2021

91.19

14.25

3.49

H2 2021

97.37

6.21

1.52

H1 2022

109.59

10.84

2.95

H2 2022

118.98

12.34

3.02

H1 2023

117.72

7.98

1.95

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.


Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.