Al Ashghal Al Moysra profit rises 37% to SAR 10.7M in 2023, Q4 at SAR 3.9M

24/07/2024 Argaam Exclusive

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Al Ashghal Al Moysra Co., a newly-listed company on the Nomu-Parallel Market, reported a net profit of SAR 10.7 million for 2023, a 37% increase from SAR 7.8 million in 2022.

Financials (M)

Item	2022	2023	Change‬
Revenues	47.51	53.94	13.5 %
Gross Income	12.08	17.63	46.0 %
Operating Income	6.94	10.30	48.5 %
Net Income	7.80	10.65	36.6 %
Average Shares	2.40	2.40	-
EPS (Riyals)	3.25	4.44	36.6 %

The profit increase was driven by project expansion across various geographies and lower costs.

Net profit for Q4 2023 reached SAR 3.9 million, a 130% surge from SAR 1.7 million in Q4 2022.

Current Half Annual Comparison (M)

Compared With The

Item	H2 2022	H2 2023	Change‬

Item	H1 2023	H2 2023	Change‬
Revenues	23.46	30.49	30.0 %
Gross Income	7.55	10.08	33.5 %
Operating Income	4.13	6.16	49.1 %
Net Income	4.59	6.06	32.0 %
Average Shares	2.40	2.40	-
EPS (Riyals)	1.91	2.52	32.0 %

Total shareholders’ equity (no minority interest) stood at SAR 39.89 million by the end of 2023, compared to SAR 7.76 million by 2022-end.

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