Tourism Enterprise Co. (Shams) reported a net profit of SAR 3.1 million in the first half of 2023, up from SAR 156,000 in the year-ago period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 4.73 | 4.68 | (1.0 %) |
| Gross Income | 0.27 | (1.05) | (488.5 %) |
| Operating Income | 0.26 | (10.38) | (4153.1 %) |
| Net Income | 0.16 | 3.07 | 1865.4 % |
| Average Shares | 677.40 | 1,156.47 | 70.7 % |
| EPS (Halala) | 0.02 | 0.27 | 1051.2 % |
The profit was driven by an increase in other income, which resulted from investing the available cash, despite the SAR 4.5 million hike in the provisions for debit balances.
The company recorded a profit of SAR 1.01 million in Q2 2023, up from SAR 70,000 in the corresponding period of 2022.
Sequentially, the company’s net profit fell 50.6% from SAR 2.05 million in Q1 2023.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 2.48 | 2.95 | 18.8 % |
| Gross Income | 0.04 | (0.60) | (1721.6 %) |
| Operating Income | 0.13 | (7.72) | (6132.0 %) |
| Net Income | 0.07 | 1.01 | 1389.7 % |
| Average Shares | 677.40 | 1,156.47 | 70.7 % |
| EPS (Halala) | 0.01 | 0.09 | 772.6 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 1.73 | 2.95 | 69.9 % |
| Gross Income | (0.45) | (0.60) | (33.6 %) |
| Operating Income | (2.66) | (7.72) | (190.7 %) |
| Net Income | 2.05 | 1.01 | (50.7 %) |
| Average Shares | 1,156.47 | 1,156.47 | 0.0 % |
| EPS (Halala) | 0.18 | 0.09 | (50.7 %) |
Total shareholders’ equity, no minority interest, stood at SAR 553.81 million by the end of the six-month period, from SAR 55.53 million in the prior-year period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}