Al Rashid Industrial net profit up 35% to SAR 10.6 mln in H1 2023

13/09/2023 Argaam Exclusive

View other reports

Al Rashid Industrial Co. posted a net profit of SAR 10.6 million in H1 2023, a 35% increase from SAR 7.4 million a year earlier.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	55.68	67.16	20.6 %
Gross Income	16.27	21.28	30.8 %
Operating Income	7.39	11.19	51.4 %
Net Income	7.83	10.55	34.7 %
Average Shares	8.00	8.00	-
EPS (Riyals)	0.98	1.32	34.7 %

The profit increase is driven by a rise of 30.79% in gross profit due to higher revenues through sales of various production lines as well as items and products added during the period with an increase in the coverage of local markets.

This is in addition to lower raw material prices compared to the same period last year.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	55.68	67.16	20.6 %
Gross Income	16.27	21.28	30.8 %
Operating Income	7.39	11.19	51.4 %
Net Income	7.83	10.55	34.7 %
Average Shares	8.00	8.00	-
EPS (Riyals)	0.98	1.32	34.7 %

Item	H2 2022	H1 2023	Change‬
Revenues	60.82	67.16	10.4 %
Gross Income	19.32	21.28	10.1 %
Operating Income	10.31	11.19	8.6 %
Net Income	8.72	10.55	21.0 %
Average Shares	8.00	8.00	-
EPS (Riyals)	1.09	1.32	21.0 %

Shareholders’ equity, no minority interest, stood at SAR 111.59 million as of June 30, 2023, compared to SAR 98.59 million a year earlier.

Semi-Annual Data
Period	Revenue (SAR mln)	Net Profit (SAR mln)	EPS (SAR/share)
H1 2022	55.68	7.83	0.98
H2 2022	61.01	8.72	1.09
H1 2023	67.16	10.55	1.32

View More Financial Results

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.

×