Al Kathiri Holding Co. reported a net profit of nearly SAR 2.2 million in H1 2023, against a loss of SAR 5.6 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 46.01 | 64.78 | 40.8 % |
| Gross Income | 0.44 | 12.89 | 2850.3 % |
| Operating Income | (4.43) | 4.92 | 211.1 % |
| Net Income | (5.52) | 2.20 | 139.9 % |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | (2.44) | 0.97 | 139.9 % |
The profit was driven by higher revenues and lower production costs.
The company turned to a net profit of SAR 666,000 in Q2 2023, against a loss of SAR 3.47 million in Q2 2022, due to higher revenues and lower production costs.
Sequentially, net profit fell 57.2% from SAR 1.56 million in Q1 2023, on increased general and administrative expenses.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 20.73 | 32.67 | 57.6 % |
| Gross Income | (0.59) | 7.29 | 1329.0 % |
| Operating Income | (2.83) | 2.47 | 187.5 % |
| Net Income | (3.46) | 0.64 | 118.5 % |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | (1.53) | 0.28 | 118.5 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 32.11 | 32.67 | 1.7 % |
| Gross Income | 5.62 | 7.29 | 29.7 % |
| Operating Income | 2.44 | 2.47 | 1.3 % |
| Net Income | 1.56 | 0.64 | (59.1 %) |
| Average Shares | 226.04 | 226.04 | - |
| EPS (Halala) | 0.69 | 0.28 | (59.1 %) |
Shareholders’ equity, after minority interest, stood at SAR 137.41 million as of June 30, 2023, from SAR 128.20 million a year earlier.
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