TAM profit rises to SAR 4.8 mln in H1 2023

03/09/2023 Argaam Exclusive

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TAM Development Co. reported a net profit to SAR 4.8 million in H1 2023, compared to SAR 2.4 million in H1 2022, spurred by higher sales.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	38.26	62.81	64.2 %
Gross Income	12.43	24.43	96.6 %
Operating Income	3.31	6.69	102.3 %
Net Income	2.37	4.76	100.8 %
Average Shares	3.66	3.66	-
EPS (Riyals)	0.65	1.30	100.8 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	38.26	62.81	64.2 %
Gross Income	12.43	24.43	96.6 %
Operating Income	3.31	6.69	102.3 %
Net Income	2.37	4.76	100.8 %
Average Shares	3.66	3.66	-
EPS (Riyals)	0.65	1.30	100.8 %

Item	H2 2022	H1 2023	Change‬
Revenues	108.82	62.81	(42.3 %)
Gross Income	42.40	24.43	(42.4 %)
Operating Income	26.75	6.69	(75.0 %)
Net Income	25.56	4.76	(81.4 %)
Average Shares	3.66	3.66	-
EPS (Riyals)	6.98	1.30	(81.4 %)

Total shareholders’ equity, no minority interest, rose to SAR 76.89 million by the end of the six-month period from SAR 46.25 million a year earlier.

Historical Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2021	25.10	2.81	0.77
H2 2021	64.75	13.71	3.75
H1 2022	38.26	2.37	0.72
H2 2022	108.81	25.56	6.98
H1 2023	62.811	4.76	1.45

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