Dar Almarkabah profit rises 11% to SAR 3.3 mln in H1 2023

26/09/2023 Argaam Exclusive

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Dar Almarkabah for Renting Cars Co. reported a net profit of SAR 3.3 million in H1 2023, an increase of 11% from SAR 3 million in the year-earlier period. 

The profit was driven by increased sales volumes on higher contracts with government and private agencies, in addition to cost-cutting measures. 

 

The company also cited improved profit margin, reduced operating expenses and product diversification strategy. 



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 29.65 30.59 3.2 %
Gross Income 8.79 9.83 11.8 %
Operating Income 4.51 5.60 24.1 %
Net Income 2.95 3.28 11.2 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Halala) 7.38 8.21 11.2 %
EPS (Halala) 7.38 8.21 11.2 %

Shareholders’ equity, no minority interest, reached SAR 24.33 million by the end of H1 2023, compared to SAR 32.76 million a year earlier. 

 

Interim Statements (SAR mln)

Period

Revenue (SAR mln)

Net Profit (SAR mln)

EPS (SAR/Share)

H1 2022

29.65

2.95

1.48

H2 2022

30.39

1.51

0.75

H1 2023

30.59

3.28

1.64

 

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Share Price

Dar Almarkabah for Renting Cars Co.
1.60
(0.04) (2.44 %)

Dar Almarkabah for Renting Cars Co. (DAR ALMARKABAH)

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Financial Ratios
Current
Market Cap (M Riyal) 80.00
Enterprise Value (EV) (M Riyal) 88.20
Shares Outstanding ((M)) 50.00
Book Value (BV) ( Riyal) 0.73
Par Value ( Halala) 50.00
Recurring P/E Neg
Price/book 2.19
EV/adj EBITDA 14.09
EV/Revenues 1.54
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