Arabian Plastic Industrial Co. (APICO) reported a net profit of SAR 13 million for 2023, up 40% from SAR 9.3 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 154.57 | 156.65 | 1.3 % |
| Gross Income | 21.34 | 28.04 | 31.4 % |
| Operating Income | 11.74 | 16.12 | 37.4 % |
| Net Income | 9.30 | 13.03 | 40.1 % |
| Average Shares | 5.00 | 5.00 | - |
| EPS (Riyals) | 1.86 | 2.61 | 40.1 % |
The annual profit growth was triggered by the lower cost of production and decreased raw materials prices, which sent gross profit 31.40% higher year-on-year (YoY).
The 2023 bottom line expanded despite the uptick in selling and administrative expenses, with financing costs also soaring 23% YoY during the year.
Total shareholders’ equity, no minority interest, rose to SAR 95.98 million by Dec. 31, 2023, compared to SAR 82.58 million a year ago.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}