Financial Results : Balady Poultry profit up to SAR 40.2 mln in Q2 2023

Balady Poultry profit up to SAR 40.2 mln in Q2 2023

13/08/2023 Argaam Exclusive

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Balady Poultry Trading Co. reported a net profit of SAR 40.2 million in Q2 2023, compared to SAR 36.2 million a year earlier.

The profit growth was driven by an increase in the average daily production during the current period to 153,000 birds, compared with 120,000 per day a year earlier. The company also cited lower costs.



Current Half Annual Comparison (M)

Compared With The
Item H1 2022 H1 2023 Change‬
Revenues 278.61 344.56 23.7 %
Gross Income 43.73 48.56 11.0 %
Operating Income 34.02 36.85 8.3 %
Net Income 36.25 40.27 11.1 %
Average Shares 6.57 6.57 -
Earnings Per Share before unusual items (Riyal) 5.52 6.13 11.1 %
EPS (Riyal) 5.52 6.13 11.1 %

Shareholders’ equity, with no minority interest, stood at SAR 170.9 billion at the end of H1 2023, compared to SAR 102.3 billion a year before.

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