MRNA H1 2023 profit jumps 16% to SAR 30.6 mln; Q2 at SAR 14.4 mln

31/07/2023 Argaam Exclusive

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Morabaha Marina Financing Co. (MRNA) reported a 16% rise in H1 2023 net profit to SAR 30.6 million, compared to SAR 26.5 million in the year-earlier period, thanks to better special commission income and other income.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Net income from finance commissions	64.80	62.60	(3.4 %)
Net Income	26.48	30.61	15.6 %
Average Shares	50.00	71.43	42.9 %
EPS (Riyals)	0.53	0.43	(19.1 %)

In Q2 2023, MRNA’s net profit climbed 13% to SAR 14.4 million from SAR 12.6 million in Q2 2022, driven by a rise in special commission income and other income.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Net income from finance commissions	32.55	29.23	(10.2 %)
Net Income	12.69	14.39	13.3 %
Average Shares	50.00	71.43	42.9 %
EPS (Riyals)	0.25	0.20	(20.7 %)

Item	Q1 2023	Q2 2023	Change‬
Net income from finance commissions	33.37	29.23	(12.4 %)
Net Income	16.22	14.39	(11.3 %)
Average Shares	50.00	71.43	42.9 %
EPS (Riyals)	0.32	0.20	(37.9 %)

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