Quara Finance 2023 profit up 6% to SAR 53.8M; Q4 profit at SAR 5.6M

26/03/2024 Argaam Exclusive

Quara Finance Co.’s net profit for 2023 rose by 6% to SAR 53.8 million, compared to SAR 50.8 million in 2022.

 

The profit rise was attributed to growing demand for financial products, as the company was able to maintain a good yield on the products year-on-year (YoY) due to its focus on retail products.



Financials (M)

Item 2022 2023 Change‬
Net income from finance commissions 156.12 178.71 14.5 %
Net Income 50.84 53.79 5.8 %
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 1.69 1.79 5.8 %
EPS (Riyals) 1.69 1.79 5.8 %

Q4 net profit fell 56% to SAR 5.6 million from SAR 12.8 million in Q4 2022.

 

Sequentially, Q4 profit fell 72.2% to SAR 20.2 million in Q3 2023.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Net income from finance commissions 76.79 85.64 11.5 %
Net Income 25.58 25.89 1.2 %
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.85 0.86 1.2 %
EPS (Riyals) 0.85 0.86 1.2 %

Total shareholders’ equity, no minority interest, increased to SAR 392.5 million as of Dec. 31, 2023, from SAR 338.73 million a year earlier.

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