Balady Poultry Trading Co. reported a net profit of SAR 100.9 million in 2023, up 19% from SAR 85.1 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 641.28 | 757.72 | 18.2 % |
| Gross Income | 96.45 | 115.34 | 19.6 % |
| Operating Income | 76.20 | 91.80 | 20.5 % |
| Net Income | 85.10 | 100.91 | 18.6 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 12.95 | 15.36 | 18.6 % |
The profit increase was driven by a rise in sales revenue to approximately SAR 757.7 million in 2023 compared to approximately SAR 641.2 million in 2022, an increase of 18.16% due to higher average daily production.
The average daily production in 2023 was 164,000 birds per day, while in 2022 it was 133,000 daily birds.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 187.91 | 227.69 | 21.2 % |
| Gross Income | 22.24 | 39.92 | 79.5 % |
| Operating Income | 16.40 | 33.43 | 103.8 % |
| Net Income | 19.02 | 36.71 | 93.0 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 2.89 | 5.59 | 93.0 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 185.47 | 227.69 | 22.8 % |
| Gross Income | 26.86 | 39.92 | 48.6 % |
| Operating Income | 21.53 | 33.43 | 55.3 % |
| Net Income | 23.93 | 36.71 | 53.4 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 3.64 | 5.59 | 53.4 % |
The fourth-quarter net earnings almost doubled to SAR 36.7 million, compared to SAR 19.02 million a year before.
Compared with the previous quarter, Q4 net earnings leapt 53.4% from SAR 23.93 million.
Shareholders’ equity, with no minority interest, stood at SAR 210.2 billion at the end of 2023, from SAR 137.2 billion a year before.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
162.83 |
9.23 |
1.40 |
|
H2 2021 |
194.67 |
11.31 |
1.72 |
|
H1 2022 |
278.61 |
36.25 |
5.52 |
|
H2 2022 |
362.67 |
48.85 |
7.44 |
|
H1 2023 |
344.56 |
40.27 |
6.12 |
|
H2 2023 |
757.72 |
100.91 |
15.36 |
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