National Building H1 2022 net profit rises 27% to SAR 31.8 mln

24/08/2022 Argaam Exclusive

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National Building and Marketing Co. (NBM) reported a net profit after Zakat and tax of SAR 31.8 million in H1 2022, an increase of 27%, compared to SAR 25.1 million in the prior-year period.

Financials (M)

Item	6m 2021	6m 2022	Change‬
Revenues	298.03	320.75	7.6 %
Gross Income	35.76	43.42	21.4 %
Operating Income	28.72	34.49	20.1 %
Net Income	25.09	32.65	30.1 %
Average Shares	12.00	12.00	-
EPS (Riyals)	2.09	2.72	30.1 %

This was triggered by a 13.71% higher revenue year-on-year (YoY) and a 17.48% increase YoY in net operating profit, in addition to higher total comprehensive income.

Current Half Annual Comparison (M)

Compared With The

Item	H1 2021	H1 2022	Change‬
Revenues	298.03	320.75	7.6 %
Gross Income	35.76	43.42	21.4 %
Operating Income	28.72	34.49	20.1 %
Net Income	25.09	32.65	30.1 %
Average Shares	12.00	12.00	-
EPS (Riyals)	2.09	2.72	30.1 %

Item	H2 2021	H1 2022	Change‬
Revenues	380.39	320.75	(15.7 %)
Gross Income	60.19	43.42	(27.9 %)
Operating Income	51.28	34.49	(32.7 %)
Net Income	48.31	32.65	(32.4 %)
Average Shares	12.00	12.00	-
EPS (Riyals)	4.03	2.72	(32.4 %)

Total shareholders’ equity, excluding minority interest, stood at SAR 273.159 million by the end of H1 2022, compared to SAR 241.411 million in the year-earlier period.

The company’s profit from associates rose 10.04% YoY to SAR 1.264 million by the end of H1 2022.

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