Saudi Parts Center Co. (SPC) reported a net profit of SAR 6.9 million for 2022, leaping 20% from SAR 5.8 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 80.58 | 94.27 | 17.0 % |
| Gross Income | 28.20 | 32.93 | 16.8 % |
| Operating Income | 6.30 | 9.08 | 44.1 % |
| Net Income | 5.75 | 6.89 | 19.8 % |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | 1.92 | 2.30 | 19.8 % |
Revenue increased by 16.99% year-on-year (YoY) to SAR 94.3 million in 2022, as revenue from the truck spare parts segment soared by 100% YoY and revenue from the heavy equipment parts segment grew by 6% YoY. Further, revenue from the turbocharger division increased by 15% YoY.
However, administrative and selling expenses rose by SAR 2.6 million, mainly due to the higher number of employees.
Shareholders’ equity, no minority interest, increased to SAR 41.16 million at the end of 2022, from SAR 34.70 million a year earlier.
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