Wafrah H1 2023 net profit declines 9% to SAR 10.2 mln; Q2 at 4.6 mln

13/08/2023 Argaam Exclusive

View other reports

Wafrah for Industry and Development Co. reported a net profit of SAR 10.2 million in H1 2023, a decline of 9% from SAR 11.2 million in the year-earlier period.

Financials (M)

Item	6m 2022	6m 2023	Change‬
Revenues	67.56	79.38	17.5 %
Gross Income	26.04	27.87	7.0 %
Operating Income	12.27	9.64	(21.5 %)
Net Income	11.18	10.78	(3.6 %)
Average Shares	19.70	23.15	17.5 %
EPS (Riyals)	0.57	0.47	(18.0 %)

The company attributed the decline to a 34% fall in operating profit year-on-year (YoY) and increased tax estimates from SAR 0.40 million to SAR 1.25 million.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2022	Q2 2023	Change‬
Revenues	33.00	39.53	19.8 %
Gross Income	12.90	14.16	9.7 %
Operating Income	5.53	4.12	(25.4 %)
Net Income	5.02	4.70	(6.5 %)
Average Shares	19.70	23.15	17.5 %
EPS (Riyals)	0.26	0.20	(20.4 %)

Item	Q1 2023	Q2 2023	Change‬
Revenues	39.85	39.53	(0.8 %)
Gross Income	13.71	14.16	3.2 %
Operating Income	5.51	4.12	(25.2 %)
Net Income	6.08	4.70	(22.7 %)
Average Shares	23.15	23.15	-
EPS (Riyals)	0.26	0.20	(22.7 %)

Q2 2023 net profit reached SAR 4.55 million, a drop of 9.4% from SAR 5.02 million in Q2 2022, on lower operating profit and increased tax.

On a quarterly basis, net earnings fell 19.1% from SAR 5.62 million in Q1 2023.

Shareholders’ equity, with no minority interest, reached SAR 231.94 million by June 30, 2023, compared to SAR 63.84 million a year earlier.

View More Financial Results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×