Lime Industries net profit down 28% to SAR 4.7 mln in H1 2023

24/08/2023 Argaam Exclusive

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Saudi Lime Industries Co. posted a net profit of SAR 4.7 million in H1 2023, a 28% decline from SAR 6.5 million a year earlier.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	70.90	71.53	0.9 %
Gross Income	31.13	31.03	(0.3 %)
Operating Income	6.69	4.59	(31.5 %)
Net Income	6.52	4.67	(28.3 %)
Average Shares	20.00	22.00	10.0 %
EPS (Riyals)	0.33	0.21	(34.8 %)

The profit decline was due to the increase in diesel prices by 20% since the beginning of the year, which affected the transportation cost of raw materials and finished goods. The company’s cost of production also rose, given the industry’s dependence on fuels.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	70.90	71.53	0.9 %
Gross Income	31.13	31.03	(0.3 %)
Operating Income	6.69	4.59	(31.5 %)
Net Income	6.52	4.67	(28.3 %)
Average Shares	20.00	22.00	10.0 %
EPS (Riyals)	0.33	0.21	(34.8 %)

Item	H2 2022	H1 2023	Change‬
Revenues	71.48	71.53	0.1 %
Gross Income	32.01	31.03	(3.1 %)
Operating Income	9.01	4.59	(49.1 %)
Net Income	9.31	4.67	(49.8 %)
Average Shares	20.00	22.00	10.0 %
EPS (Riyals)	0.47	0.21	(54.3 %)

Shareholders’ equity, no minority interest, stood at SAR 271.13 million as of June 30, 2023, compared to SAR 227.67 million a year earlier.

Lime Industries’ Semi-Annual 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	4.67	0.23

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