Financial Results : Almuneef’s net profit slumps 15% to SAR 17.6M in 2023

Almuneef’s net profit slumps 15% to SAR 17.6M in 2023

31/03/2024 Argaam Exclusive

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Almuneef Co. for Trade, Industry, Agriculture and Contracting’s (Almuneef) net profit dropped 15% to SAR 17.6 million in 2023, from SAR 20.6 million a year earlier, on lower sales value given the decreased prices of the company’s main products.



Financials (M)

Item 2022 2023 Change‬
Revenues 318.43 246.30 (22.7 %)
Gross Income 32.64 27.94 (14.4 %)
Operating Income 22.52 19.87 (11.8 %)
Net Income 20.63 17.58 (14.8 %)
Average Shares 3.80 3.80 -
EPS (Riyals) 5.43 4.63 (14.8 %)


Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 169.41 121.96 (28.0 %)
Gross Income 15.20 13.75 (9.5 %)
Operating Income 10.46 9.00 (14.0 %)
Net Income 8.85 7.04 (20.5 %)
Average Shares 3.80 3.80 -
EPS (Riyals) 2.33 1.85 (20.5 %)

Total shareholders’ equity, no minority interest, jumped to SAR 75.54 million by Dec. 31, 2023, compared to SAR 61.15 million a year ago.

 

Historical Data

Period

Revenue

(SAR mln)

Net profit

(SAR mln)

EPS

(SAR)

H1 2022

149.03

11.77

3.10

H2 2022

169.4

8.86

2.33

H1 2023

124.34

10.54

2.77

H2 2023

121.96

7.04

1.85
 

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