Financial Results : Paper Home profit jumps 22% to SAR 17.7M in 2023

Paper Home profit jumps 22% to SAR 17.7M in 2023

27/03/2024 Argaam Exclusive

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Paper Home Co. reported a 22% leap in its 2023 net profit to SAR 17.7 million, from SAR 14.5 million in 2022.



Financials (M)

Item 2022 2023 Change‬
Revenues 98.15 97.40 (0.8 %)
Gross Income 19.96 28.25 41.5 %
Operating Income 11.37 16.90 48.6 %
Net Income 14.49 17.73 22.4 %
Average Shares 6.00 6.00 -
Earnings Per Share before unusual items (Riyals) 1.79 2.73 52.6 %
EPS (Riyal) 2.41 2.95 22.4 %

The annual profit growth was driven by the lower cost of raw materials despite the pullback in sales on a decline in selling prices.



Current Half Annual Comparison (M)

Compared With The
Item H2 2022 H2 2023 Change‬
Revenues 50.20 46.70 (7.0 %)
Gross Income 10.00 14.64 46.3 %
Operating Income 5.60 7.96 42.3 %
Net Income 8.20 9.23 12.5 %
Average Shares 6.00 6.00 -
Earnings Per Share before unusual items (Riyal) 0.74 1.32 77.1 %
EPS (Riyal) 1.37 1.54 12.5 %

Shareholders' equity, no minority interest, rose to SAR 65.45 million at the end of 2023, from SAR 47.97 million in 2022.

 

Historical Data

Period

Revenue

(SAR mln)

Net Profit

(SAR mln)

EPS

(SAR)

H1 2022

47.96

6.29

4.19

H2 2022

50.19

8.20

5.47

H1 2023

50.70

8.50

5.67

H2 2023

46.70

9.23

6.15

 

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