Saudi Parts Center Co. (SPC) reported a net profit of SAR 6 million for 2023, falling 13% from SAR 6 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 94.27 | 113.34 | 20.2 % |
| Gross Income | 32.93 | 36.04 | 9.4 % |
| Operating Income | 9.08 | 8.50 | (6.4 %) |
| Net Income | 6.89 | 5.98 | (13.2 %) |
| Average Shares | 3.00 | 3.00 | - |
| EPS (Riyals) | 2.30 | 1.99 | (13.2 %) |
The profit decline was attributed to higher administrative and selling expenses by SAR 3.4 million compared to 2022, due to the increase in the number of sales employees.
The company also cited losses of SAR 613,000 from currency exchange rates related to payments to external suppliers.
Meanwhile, 2023 revenues grew due to higher revenues from the truck spare parts segment by 45% and an increase in revenues from the heavy equipment spare parts segment by 17% compared to the previous year.
Shareholders’ equity, no minority interest, increased to SAR 46.17 million at the end of 2023, from SAR 41.17 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020 |
39.73 |
5.37 |
1.79 |
|
H2 2020 |
37.92 |
4.68 |
1.56 |
|
H1 2021 |
38.32 |
2.82 |
0.94 |
|
H2 2021 |
42.26 |
2.93 |
0.98 |
|
H1 2022 |
44.35 |
2.84 |
0.95 |
|
H2 2022 |
49.92 |
4.05 |
1.35 |
|
H1 2023 |
50.96 |
2.59 |
0.86 |
|
H2 2023 |
62.38 |
3.39 |
1.13 |
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