Financial Results : Saudi Lime net profit slides 38% to SAR 9.8M in 2023

Saudi Lime net profit slides 38% to SAR 9.8M in 2023

27/03/2024 Argaam Exclusive

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Saudi Lime Industries Co. reported a net profit of SAR 9.8 million for 2023, a 38% decline from SAR 15.8 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 142.38 149.98 5.3 %
Gross Income 63.14 66.71 5.7 %
Operating Income 15.70 6.32 (59.7 %)
Net Income 15.83 9.76 (38.3 %)
Average Shares 20.00 22.00 10.0 %
EPS (Riyals) 0.79 0.44 (43.9 %)

This was attributed to higher general and administrative expenses (G&As), a rise in credit loss provisions and increased Zakat and income tax expenses.

 

However, revenues increased during the year due to higher sales volume and value compared with 2022.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 71.48 78.44 9.7 %
Gross Income 32.01 35.68 11.5 %
Operating Income 9.01 1.74 (80.7 %)
Net Income 9.31 5.09 (45.3 %)
Average Shares 20.00 22.00 10.0 %
EPS (Riyals) 0.47 0.23 (50.3 %)

Total shareholders’ equity, no minority interest, stood at SAR 275.75 million by Dec. 31, 2023, compared to SAR 237.26 million a year ago.

 

Historical Data

Period

Revenue (SAR mln)

Net profit (SAR mln)

EPS (SAR /share)

H1 2021

65.15

6.45

0.32

H2 2021

66.44

4.81

0.24

H1 2022

70.90

6.52

0.33

H2 2022

71.48

9.31

0.47

H1 2023

71.53

4.68

0.22

H2 2023

78.45

5.08

0.24

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