MRNA’s earnings grow 8% to SAR 40.1 mln in 9M 2023; Q3 down 12% at SAR 9.4 mln

30/10/2023 Argaam Exclusive

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Morabaha Marina Financing Co.’s (MRNA) net profit increased 8% to SAR 40.1 million for the first nine months of 2023, compared to SAR 37.1 million in the year-earlier period.

Financials (M)

Item	9m 2022	9m 2023	Change‬
Net income from finance commissions	94.91	91.68	(3.4 %)
Net Income	37.14	40.05	7.8 %
Average Shares	50.00	71.43	42.9 %
EPS (Riyals)	0.74	0.56	(24.5 %)

The year-on-year (YoY) profit surge was attributed to higher special commission income and other revenues.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2022	Q3 2023	Change‬
Net income from finance commissions	30.11	29.09	(3.4 %)
Net Income	10.66	9.44	(11.5 %)
Average Shares	50.00	71.43	42.9 %
EPS (Riyals)	0.21	0.13	(38.0 %)

Item	Q2 2023	Q3 2023	Change‬
Net income from finance commissions	29.23	29.09	(0.5 %)
Net Income	14.39	9.44	(34.4 %)
Average Shares	71.43	71.43	-
EPS (Riyals)	0.20	0.13	(34.4 %)

View More Financial Results

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