Amlak’s profits fall 67% to SAR 31.8M in 2023, Q4 at SAR 8.9M

25/02/2024 Argaam Exclusive

View other reports

Amlak International Finance Co. reported a net profit of SAR 31.8 million in 2023, a drop of 67% from SAR 96.7 million in the year-earlier period.

Financials (M)

Item	2022	2023	Change‬
Net income from finance commissions	219.53	175.65	(20.0 %)
Net Income	96.72	31.81	(67.1 %)
Average Shares	101.93	101.93	-
EPS (Riyals)	0.95	0.31	(67.1 %)

The profit decline was attributed to the increase in financing costs as well as operating expenses before provisions for credit and other losses, in addition to higher provisions for expected credit losses.

Q4 2023 earnings dropped 44% to SAR 8.9 million, compared with SAR 15.99 million a year earlier.

Compared with the previous quarter, Q4 2023 earnings leapt 59.5% from SAR 5.57 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Net income from finance commissions	52.91	53.67	1.4 %
Net Income	15.99	8.88	(44.4 %)
Average Shares	101.93	101.93	-
EPS (Riyals)	0.16	0.09	(44.4 %)

Item	Q3 2023	Q4 2023	Change‬
Net income from finance commissions	37.98	53.67	41.3 %
Net Income	5.57	8.88	59.5 %
Average Shares	101.93	101.93	-
EPS (Riyals)	0.05	0.09	59.5 %

Total shareholders’ equity, no minority interest, stood at SAR 1.18 billion as of Dec. 31, 2023, compared to SAR 1.23 billion a year earlier.

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.

×