Financial Results : SHL 9M 2023 profit sinks 88% to SAR 9.8 mln; Q3 at SAR 4.8 mln

SHL 9M 2023 profit sinks 88% to SAR 9.8 mln; Q3 at SAR 4.8 mln

01/11/2023 Argaam Exclusive

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SHL Finance Co. posted an 88% profit slump in the first nine months of 2023 to SAR 9.8 million, compared to SAR 80 million in the year-earlier period.



Financials (M)

Item 9m 2022 9m 2023 Change‬
Net income from finance commissions 127.20 87.29 (31.4 %)
Net Income 80.04 9.81 (87.7 %)
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) 0.46 0.02 (95.0 %)
EPS (Riyal) 0.80 0.10 (87.7 %)

The nine-month profit was hurt by higher finance costs.

 

In Q3 2023, net profit tumbled 71% to SAR 4.8 million from SAR 16.38 million in the year-earlier period, due to higher borrowing costs.



Current Quarter Comparison (M)

Compared With The
Item Q3 2022 Q3 2023 Change‬
Net income from finance commissions 35.46 31.78 (10.4 %)
Net Income 16.38 4.77 (70.9 %)
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyal) 0.08 0.00 (105.0 %)
EPS (Riyal) 0.16 0.05 (70.9 %)

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