SHL 9M 2023 profit sinks 88% to SAR 9.8 mln; Q3 at SAR 4.8 mln

01/11/2023 Argaam Exclusive

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SHL Finance Co. posted an 88% profit slump in the first nine months of 2023 to SAR 9.8 million, compared to SAR 80 million in the year-earlier period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Net income from finance commissions	127.20	87.29	(31.4 %)
Net Income	80.04	9.81	(87.7 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.80	0.10	(87.7 %)

The nine-month profit was hurt by higher finance costs.

In Q3 2023, net profit tumbled 71% to SAR 4.8 million from SAR 16.38 million in the year-earlier period, due to higher borrowing costs.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Net income from finance commissions	35.46	31.78	(10.4 %)
Net Income	16.38	4.77	(70.9 %)
Average Shares	100.00	100.00	-
EPS (Riyals)	0.16	0.05	(70.9 %)

Item	Q2 2023	Q3 2023	Change‬
Net income from finance commissions	27.71	31.78	14.7 %
Net Income	2.60	4.77	83.6 %
Average Shares	100.00	100.00	-
EPS (Riyals)	0.03	0.05	83.6 %

View More Financial Results

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