Logo of Al Mawarid Manpower Co.
Al Mawarid Manpower Co., which will list soon on the Saudi Exchange (Tadawul), reported a 37% profit jump to SAR 76 million in 2022 (earnings per share: SAR 5.07), from SAR 55.7 million a year earlier.
|
Income Statement (SAR mln) |
|||
|
Period |
2021 |
2022 |
Change % |
|
Revenue |
663.7 |
944.7 |
+42% |
|
Gross Profit Margin (%) |
14.6 % |
13.5 % |
(1%) |
|
Net Profit |
55.7 |
76.0 |
+37% |
|
No. of shares (mln) |
10.0 |
15.0 |
-- |
The annual profit was spurred by a 42% year-on-year (YoY) rise in revenue to SAR 944.7 million, on improved segment performance across the board. The corporate business – the company’s main segment – led growth with a 43% YoY leap in revenue to SAR 619.5 million.
Revenue from the contractual individual segment rose to SAR 203.7 million in 2022, from SAR 126.9 million in 2021. The individual hourly-rental segment also posted an 18% jump YoY in annual revenue to SAR 121.5 million.
|
Operating Segment Revenue (SAR mln) |
|||
|
Period |
2021 |
2022 |
Change % |
|
Corporate |
433.7 |
619.5 |
+43% |
|
Individual - Contractual |
126.9 |
203.7 |
+61% |
|
Individual – Hourly Rental |
103.1 |
121.5 |
+18% |
|
Total |
663.7 |
944.7 |
+42% |
The following table illustrates income statement since 2019:
|
|
Income Statement (SAR mln) |
||||
|
Period |
2019 |
2020 |
2021 |
2022 |
|
|
Revenue |
716.0 |
686.7 |
663.7 |
944.7 |
|
|
Gross Profit Margin (%) |
10.1% |
11.9% |
14.6% |
13.5% |
|
|
Net Profit |
38.6 |
45.9 |
55.7 |
76.0 |
|
|
No. of shares (mln) |
10.0 |
10.0 |
10.0 |
15.0 |
|
The following table illustrates segment profits since 2019:
|
Operating Segment Profit (SAR mln) |
|
||||
|
Period |
2019 |
2020 |
2021 |
2022 |
|
|
Corporate |
553.0 |
476.3 |
433.7 |
619.5 |
|
|
Individual - Contractual |
114.7 |
152.1 |
126.9 |
203.7 |
|
|
Individual – Hourly Rental |
48.3 |
58.3 |
103.1 |
121.5 |
|
|
Total |
716.0 |
686.7 |
663.7 |
944.7 |
|
The following table illustrates the company’s balance sheet since 2019:
|
Balance Sheet (SAR mln) |
||||
|
Item |
2019 |
2020 |
2021 |
2022 |
|
Current Assets |
283.8 |
308.1 |
329.7 |
416.2 |
|
Non-Current Assets |
58.6 |
59.9 |
75.3 |
87.9 |
|
Total Assets |
342.4 |
367.9 |
405.0 |
504.1 |
|
Current Liabilities |
137.6 |
131.2 |
136.0 |
174.1 |
|
Non-Current Liabilities |
34.6 |
37.4 |
36.1 |
36.9 |
|
Total Liabilities |
172.1 |
168.5 |
172.0 |
211.0 |
|
Capital |
100.0 |
100.0 |
100.0 |
150.0 |
|
Shareholders’ Equity |
170.3 |
199.4 |
233.0 |
293.1 |
The following table illustrates the company’s dividends since 2019:
|
Company’s Dividends (SAR mln) |
||||
|
Period |
2019 |
2020 |
2021 |
2022 |
|
Dividends |
20.0 |
20.0 |
20.0 |
20.0 |
|
Dividends/Net profit (%) |
52% |
44% |
36$ |
26% |
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