Financial Results : Ghida Al-Sultan’s H1 2022 profit rises 10% to SAR 7.2 mln

Ghida Al-Sultan’s H1 2022 profit rises 10% to SAR 7.2 mln

19/02/2023 Argaam Exclusive

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Ghida Al-Sultan Co., which is currently under listing on Nomu-Parallel Market, reported a net profit of SAR 7.2 million for H1 2022, an increase of 10%, from SAR 6.5 million in a year-earlier period.



Financials (M)

Item 6m 2021 6m 2022 Change‬


Current Half Annual Comparison (M)

Compared With The
Item H1 2021 H1 2022 Change‬
Revenues 44.46 67.11 50.9 %
Gross Income 16.60 28.18 69.8 %
Operating Income 6.94 7.49 7.9 %
Net Income 6.51 7.15 9.7 %
Average Shares 3.20 3.20 -
EPS (Riyals) 2.04 2.23 9.7 %

This profit rise was driven by a revenue jump of 51% year-on-year (YoY), and an increase in other revenue to SAR 362,000 in H1 2022 from SAR 81,000 in the same period of 2021.

 

The company’s gross profit margin rose to 42%, from 37% in the year-earlier period.  

 

Total shareholders’ equity, excluding minority interest, reached SAR 45.43 million by the end of June 30, 2022, compared to SAR 37.93 million in a year-earlier period.

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