Jamjoom Pharmaceuticals Factory Co. (Jamjoom Pharma) posted a net profit of SAR 247.9 million in 9M 2023, leaping 78% from SAR 139.6 million a year earlier.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 719.84 | 892.96 | 24.1 % |
| Gross Income | 468.51 | 584.93 | 24.8 % |
| Operating Income | 195.06 | 271.14 | 39.0 % |
| Net Income | 139.56 | 247.92 | 77.6 % |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 1.99 | 3.54 | 77.6 % |
The profit increase was buoyed by 24.1% revenue growth year-on-year (YoY) due to higher sales volume, new product launches, and price adjustment for some key products that was obtained in 2023. The company also cited a 94.6% drop YoY in finance costs. However, the selling and distribution expenses increased by 12.1% YoY.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 237.76 | 292.61 | 23.1 % |
| Gross Income | 151.13 | 187.23 | 23.9 % |
| Operating Income | 60.03 | 84.67 | 41.1 % |
| Net Income | 45.60 | 77.25 | 69.4 % |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 0.65 | 1.10 | 69.4 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 298.40 | 292.61 | (1.9 %) |
| Gross Income | 198.10 | 187.23 | (5.5 %) |
| Operating Income | 92.56 | 84.67 | (8.5 %) |
| Net Income | 86.27 | 77.25 | (10.5 %) |
| Average Shares | 70.00 | 70.00 | - |
| EPS (Riyals) | 1.23 | 1.10 | (10.5 %) |
The third-quarter earnings leapt 69% to SAR 77.2 million, compared to SAR 45.60 million in the year-ago period, driven by a 23.1% leap YoY in revenues and a 92.2% drop in finance costs.
On a quarterly basis, the company posted a 10.5% decline in Q3 profit from SAR 86.27 million.
Shareholders’ equity, no minority interest, increased to SAR 1.36 billion as of Sept. 30, 2023, compared to SAR 1.28 billion a year earlier.
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