iOud profit rises to SAR 721,000 in H1 2023

09/10/2023 Argaam Exclusive

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Intelligent Oud Co. (iOud) reported an increase in net profit to SAR 721,000 in the first half of 2023, from SAR 315,000 in the prior-year period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	7.13	7.89	10.7 %
Gross Income	4.90	6.09	24.3 %
Operating Income	0.88	1.71	93.4 %
Net Income	0.32	0.72	128.6 %
Average Shares	1.56	1.56	-
EPS (Riyals)	0.20	0.46	128.6 %

Current Half Annual Comparison (M)

Compared With The

Item	H1 2022	H1 2023	Change‬
Revenues	7.13	7.89	10.7 %
Gross Income	4.90	6.09	24.3 %
Operating Income	0.88	1.71	93.4 %
Net Income	0.32	0.72	128.6 %
Average Shares	1.56	1.56	-
EPS (Riyals)	0.20	0.46	128.6 %

Item	H2 2022	H1 2023	Change‬
Revenues	15.96	7.89	(50.5 %)
Gross Income	9.55	6.09	(36.3 %)
Operating Income	4.17	1.71	(59.1 %)
Net Income	3.41	0.72	(78.8 %)
Average Shares	1.56	1.56	-
EPS (Riyals)	2.18	0.46	(78.8 %)

The higher profit was driven by better sales and a decline in costs.

Shareholders’ equity, no minority interest, stood at SAR 22.73 million as of June 30, 2023, up from SAR 22.01 million a year earlier.

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