Financial Results : Marble Design profit grows to SAR 10.6 mln in H1 2023

Marble Design profit grows to SAR 10.6 mln in H1 2023

20/08/2023 Argaam Exclusive

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Marble Design Co. reported a rise of 8.5% in net profit to SAR 10.6 million in the first half of 2023 from SAR 9.8 million in the prior-year period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 25.27 26.79 6.0 %
Gross Income 16.30 17.67 8.4 %
Operating Income 10.57 10.12 (4.2 %)
Net Income 9.80 10.64 8.5 %
Average Shares 6.00 6.00 -
EPS (Riyals) 1.63 1.77 8.5 %

The positive performance was driven by a rise of 6.01% in revenue from core activities to SAR 26.79 million from SAR 25.27 million in H1 2022.

 

The marble manufacturer also reported a surge in other income of SAR 881,679 on selling two land plots in Al Aziziyah, Riyadh.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 25.27 26.79 6.0 %
Gross Income 16.30 17.67 8.4 %
Operating Income 10.57 10.12 (4.2 %)
Net Income 9.80 10.64 8.5 %
Average Shares 6.00 6.00 -
EPS (Riyals) 1.63 1.77 8.5 %

Shareholders’ equity, no minority interest, stood at SAR 97.71 million as of June 30, 2023, up from SAR 95.25 million a year earlier.

 

                                                                     Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2022

25.27

9.80

1.63

H2 2022

29.90

12.82

2.14

H1 2023

26.79

10.64

1.77

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