Nofoth H1 2023 profit jumps 43% to SAR 22.1 mln

14/08/2023 Argaam Exclusive

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Nofoth Food Products Co. reported a 43.5% increase in H1 2023 net profit to SAR 22.1 million from SAR 15.4 million a year earlier.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	135.72	155.62	14.7 %
Gross Income	72.28	91.47	26.5 %
Operating Income	15.40	23.01	49.4 %
Net Income	15.37	22.05	43.5 %
Average Shares	48.00	48.00	-
EPS (Riyals)	0.32	0.46	43.5 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	135.72	155.62	14.7 %
Gross Income	72.28	91.47	26.5 %
Operating Income	15.40	23.01	49.4 %
Net Income	15.37	22.05	43.5 %
Average Shares	48.00	48.00	-
EPS (Riyals)	0.32	0.46	43.5 %

Item	H2 2022	H1 2023	Change‬
Revenues	134.48	155.62	15.7 %
Gross Income	75.48	91.47	21.2 %
Operating Income	17.37	23.01	32.4 %
Net Income	16.12	22.05	36.8 %
Average Shares	48.00	48.00	-
EPS (Riyals)	0.34	0.46	36.8 %

The company’s revenues increased to SAR 155.62 million from SAR 135.72 million in H1 2022.

Shareholders’ equity, no minority interest, reached SAR 85.66 million as of June 30, 2023, up from SAR 52.86 million in the prior-year period.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	80.91	12.39	0.52
H2 2021	115.71	14.46	0.60
H1 2022	135.72	15.37	0.64
H2 2022	133.10	16.12	0.67
H1 2023	155.62	22.05	0.92

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