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 %

Item	H2 2022	H1 2023	Change‬
Revenues	29.90	26.79	(10.4 %)
Gross Income	20.42	17.67	(13.5 %)
Operating Income	13.93	10.12	(27.3 %)
Net Income	12.82	10.64	(17.0 %)
Average Shares	6.00	6.00	-
EPS (Riyals)	2.14	1.77	(17.0 %)

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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