Financial Results : SISCO Q1 2023 net profit surges to SAR 19.4 mln

SISCO Q1 2023 net profit surges to SAR 19.4 mln

16/05/2023 Argaam Exclusive

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Saudi Industrial Services Co. (SISCO) reported a net profit of SAR 19.4 million in Q1 2023, compared to SAR 800,000 in the year-earlier period.  



Current Quarter Comparison (M)

Compared With The
Item Q1 2022 Q1 2023 Change‬
Revenues 212.56 434.90 104.6 %
Gross Income 90.21 129.10 43.1 %
Operating Income 46.44 83.88 80.6 %
Net Income 0.78 19.47 2401.7 %
Average Shares 81.60 81.60 -
EPS (Riyals) 0.01 0.24 2401.7 %

This was spurred by an increase in revenue (excluding accounting construction revenue) year-on-year (YoY) to SAR 238.9 million in Q1 2023, higher gross margins, increased investment income and stable operating expenses during the period. 

 

On a quarterly basis, net earnings grew 5.2% from SAR 18.44 million on higher revenue.

 

Shareholders’ equity, no minority interest, stood at SAR 1.52 billion by the end of Q1 2023, compared to SAR 1.45 billion in the year-earlier period.   

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