Mulkia Investment’s net profit grows 28% to SAR 20.8M in 2023

10/03/2024 Argaam Exclusive

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Mulkia Investment Co. reported a net profit of SAR 20.8 million in 2023, an increase of 28% from SAR 16.3 million a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	36.84	43.83	19.0 %
Gross Income	24.77	26.77	8.1 %
Operating Income	21.71	23.00	6.0 %
Net Income	16.32	20.82	27.5 %
Average Shares	6.50	6.50	-
EPS (Riyals)	2.51	3.20	27.5 %

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬
Revenues	18.41	20.24	9.9 %
Gross Income	11.80	10.38	(12.1 %)
Operating Income	11.23	8.36	(25.5 %)
Net Income	6.70	7.31	9.2 %
Average Shares	6.50	6.50	-
EPS (Riyals)	1.03	1.13	9.2 %

Item	H1 2023	H2 2023	Change‬
Revenues	23.59	20.24	(14.2 %)
Gross Income	16.39	10.38	(36.7 %)
Operating Income	14.64	8.36	(42.9 %)
Net Income	13.50	7.31	(45.8 %)
Average Shares	6.50	6.50	-
EPS (Riyals)	2.08	1.13	(45.8 %)

This was propelled by higher operating revenue, which grew to SAR 43.8 million in 2023 from SAR 36.8 million in 2022, and a drop of SAR 3 million in provisions.

Meanwhile, operating expenses rose by SAR 5.8 million.

Shareholders’ equity, no minority interest, stood at SAR 89.29 million by Dec. 31, 2023, compared to SAR 67.34 million a year earlier.

Historical Data
Period	Revenues (SAR mln)	Net Profit (SAR mln)	EPS (SAR)
H1 2022	18.42	9.62	1.48
H2 2022	18.42	6.70	1.03
H1 2023	23.59	13.50	2.08
H2 2023	20.24	7.32	1.12

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