Almuneef H1 2023 profit down 11% to SAR 10.5 mln

28/08/2023 Argaam Exclusive

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Almuneef Company for Trade, Industry, Agriculture and Contracting posted a net profit of SAR 10.5 million for H1 2023, a decline of 11% compared with SAR 11.8 million a year earlier.

The profit decline was due to the lower profit margin of units resulting from a decrease in the selling price of the main products compared to the cost of purchase.

 

This led to a fall in the profit margin of the products, which dominate the biggest percentage of the company’s sales.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 149.03 124.34 (16.6 %)
Gross Income 17.43 14.18 (18.6 %)
Operating Income 12.06 10.87 (9.8 %)
Net Income 11.77 10.54 (10.5 %)
Average Shares 38.00 38.00 -
Earnings Per Share before unusual items (Riyals) 0.31 0.28 (10.5 %)
EPS (Riyals) 0.31 0.28 (10.5 %)

Shareholders’ equity, no minority interest, stood at SAR 86.98 million as of June 30, 2023, compared to SAR 67.19 million a year earlier.

 

Historical Data

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR/share)

H1 2021

76.70

8.54

2.25

H2 2021

111.06

11.13

2.93

H1 2022

149.03

11.77

3.10

H1 2023

124.34

10.54

2.77

 

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Share Price

Almuneef Company for Trade, Industry, Agriculture and Contracting
6.60
(0.26) (3.79 %)

Almuneef Company for Trade, Industry, Agriculture and Contracting (ALMUNEEF)

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Financial Ratios
Current
Market Cap (M Riyal) 250.80
Enterprise Value (EV) (M) 218.04
Shares Outstanding ((M)) 38.00
Book Value (BV) ( Riyal) 2.84
Par Value ( Riyal) 1.00
Adjusted P/E (Last12) 12.25
Price/book 2.33
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