Clean Life profits increase 11% to SAR 9.2M in 2023

05/03/2024 Argaam Exclusive

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Clean Life Co. reported a net profit of SAR 9.2 million in 2023, a 11% increase from SAR 8.3 million in 2022.

Financials (M)

Item	2022	2023	Change‬
Revenues	33.21	49.31	48.5 %
Gross Income	24.09	35.70	48.2 %
Operating Income	8.34	9.07	8.7 %
Net Income	8.27	9.20	11.3 %
Average Shares	1.50	1.50	-
EPS (Riyals)	5.51	6.14	11.3 %

The company noted an increase in operating efficiency through automating reservation and operational follow-up procedures. This led to a rise in sales capacity of the operating teams, in addition to increasing the number of operating and sales teams.

Revenues rose to SAR 49.3 million in 2023 compared to SAR 33.2 in 2022.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	17.96	25.99	44.7 %
Gross Income	12.53	18.90	50.8 %
Operating Income	3.99	3.72	(6.8 %)
Net Income	4.19	3.88	(7.4 %)
Average Shares	1.50	1.50	-
EPS (Riyals)	2.79	2.59	(7.4 %)

Item	H1 2023	H2 2023	Change‬
Revenues	23.32	25.99	11.4 %
Gross Income	16.80	18.90	12.5 %
Operating Income	5.35	3.72	(30.4 %)
Net Income	5.33	3.88	(27.2 %)
Average Shares	1.50	1.50	-
EPS (Riyals)	3.55	2.59	(27.2 %)

Total shareholders’ equity, no minority interest, stood at SAR 20.55 million as of Dec. 31, 2023, compared to SAR 18.83 million a year earlier.

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