Cenomi Centers’ net profit jumps 49% to SAR 1.5B; Q4 at SAR 482.3M

26/03/2024 Argaam Exclusive

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Arabian Centres Co. (Cenomi Centers) reported a 49% growth in net profit before minority interest to SAR 1.5 billion in 2023, compared to SAR 1 billion a year earlier.

Financials (M)

Item	2022	2023	Change‬
Revenues	2,206.70	2,253.67	2.1 %
Gross Income	1,845.67	1,870.19	1.3 %
Operating Income	1,471.37	1,266.51	(13.9 %)
Net Income	1,007.09	1,515.00	50.4 %
Average Shares	475.00	475.00	-
Earnings Per Share before unusual items	2.15	1.84	(14.5 %)
EPS (Riyals)	2.12	3.19	50.4 %

Current Quarter Comparison (M)

Compared With The

Item	Q4 2022	Q4 2023	Change‬
Revenues	550.84	543.92	(1.3 %)
Gross Income	458.83	458.25	(0.1 %)
Operating Income	316.71	284.30	(10.2 %)
Net Income	391.18	506.46	29.5 %
Average Shares	475.00	475.00	-
Earnings Per Share before unusual items	0.48	0.45	(6.1 %)
EPS (Riyals)	0.82	1.07	29.5 %

Item	Q3 2023	Q4 2023	Change‬
Revenues	567.70	543.92	(4.2 %)
Gross Income	462.76	458.25	(1.0 %)
Operating Income	335.25	284.30	(15.2 %)
Net Income	286.54	506.46	76.7 %
Average Shares	475.00	475.00	-
Earnings Per Share before unusual items	0.48	0.45	(6.2 %)
EPS (Riyals)	0.60	1.07	76.7 %

In Q4 2023, net profit rose to SAR 482.3 million, from SAR 378.87 million.

On a quarterly basis, net profit increased 68.3% from SAR 293.6 million in Q3 2023.

Total shareholders’ equity, after minority interest, stood at SAR 14.3 billion by Dec. 31, 2023, compared to SAR 14 billion a year ago.

Attached Documents

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