Ghida Al-Sultan’s 2022 profit up 28% to SAR 19.5 mln

30/04/2023 Argaam Exclusive

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Ghida Al-Sultan reported a net profit of SAR 19.5 million in 2022, an increase of 28% from SAR 15.3 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	107.08	146.11	36.5 %
Gross Income	43.59	59.92	37.5 %
Operating Income	16.05	20.99	30.8 %
Net Income	15.27	19.47	27.5 %
Average Shares	3.20	3.20	-
EPS (Riyals)	4.77	6.08	27.5 %

The profit growth was spurred by increased sales of existing branches, opening new branches and establishing Foil Burger cloud brand.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬
Revenues	62.62	79.01	26.2 %
Gross Income	26.99	31.74	17.6 %
Operating Income	9.10	13.50	48.3 %
Net Income	8.75	12.32	40.8 %
Average Shares	3.20	3.20	-
EPS (Riyals)	2.74	3.85	40.8 %

Item	H1 2022	H2 2022	Change‬
Revenues	67.11	79.01	17.7 %
Gross Income	28.18	31.74	12.6 %
Operating Income	7.49	13.50	80.2 %
Net Income	7.15	12.32	72.4 %
Average Shares	3.20	3.20	-
EPS (Riyals)	2.23	3.85	72.4 %

Total shareholders’ equity, no minority interest, stood at SAR 51.76 million by the end of the year, compared to SAR 46.67 million in 2021.

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