Al-Rashid Industrial posts 9% profit growth to SAR 16.6 mln in 2022

20/08/2023 Argaam Exclusive

View other reports

Al-Rashid Industrial Co., which filed for direct listing on Nomu Parallel-Market, reported a 9% profit rise to SAR 16.5 million in 2022, compared to SAR 15.2 million a year earlier.

Financials (M)

Item	2021	2022	Change‬
Revenues	95.15	116.50	22.4 %
Gross Income	30.34	35.58	17.3 %
Operating Income	16.12	17.70	9.8 %
Net Income	15.22	16.55	8.7 %
Average Shares	8.00	8.00	-
EPS (Riyals)	1.90	2.07	8.7 %

The profit growth was driven by a 23% leap in revenues to SAR 116.7 million in 2022 from SAR 95.1 million in 2021, thanks to the private sector revenues, which increased by 26% year-on-year (YoY).

Other income also rose to SAR 864,3000 in 2022 from SAR 375,800 a year earlier.

This came despite a decline in the operating profit margin to 15% from 17% in 2021, as operating expenses increased by 24%.

Al-Rashid reported impairment in financial assets of SAR 180,400 against a provision reversal of SAR 189,400 in 2021.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2021	H2 2022	Change‬

Item	H1 2022	H2 2022	Change‬
Revenues	55.68	60.82	9.2 %
Gross Income	16.27	19.32	18.7 %
Operating Income	7.39	10.31	39.4 %
Net Income	7.83	8.72	11.3 %
Average Shares	8.00	8.00	-
EPS (Riyals)	0.98	1.09	11.3 %

Shareholders’ equity, no minority interest, reached SAR 106.30 million by the end of the 12-month period, compared to SAR 98.44 million a year earlier.

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×