Baazeem Trading profit rises marginally to SAR 21.8 mln in 2022; Q4 at SAR 4.3 mln

15/03/2023 Argaam Exclusive

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Baazeem Trading Co. reported a slight rise in 2022 net profit to SAR 21.8 million, compared to SAR 21.6 million in 2021, thanks to a 1% increase year-on-year (YoY) in sales.

Financials (M)

Item	2021	2022	Change‬
Revenues	259.91	263.35	1.3 %
Gross Income	96.98	97.88	0.9 %
Operating Income	27.86	26.92	(3.4 %)
Net Income	21.55	21.78	1.0 %
Average Shares	101.25	101.25	-
EPS (Riyals)	0.21	0.22	1.0 %

In Q4 2022, net profit leapfrogged 60% YoY to SAR 4.3 million.

Current Quarter Comparison (M)

Compared With The

Item	Q4 2021	Q4 2022	Change‬
Revenues	61.18	67.25	9.9 %
Gross Income	22.01	25.74	16.9 %
Operating Income	5.72	6.19	8.3 %
Net Income	2.68	4.29	60.1 %
Average Shares	101.25	101.25	-
EPS (Riyals)	0.03	0.04	60.1 %

Item	Q3 2022	Q4 2022	Change‬
Revenues	63.21	67.25	6.4 %
Gross Income	22.46	25.74	14.6 %
Operating Income	5.36	6.19	15.5 %
Net Income	4.04	4.29	6.0 %
Average Shares	101.25	101.25	-
EPS (Riyals)	0.04	0.04	6.0 %

Compared to the previous quarter, net profit grew 6% from SAR 4.04 million.

Total shareholders’ equity, no minority interest, declined to SAR 190.38 million as of Dec. 31, 2022, from SAR 194.08 million a year earlier.

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