Riyadh Steel Co. reported a rise in 2023 net profit to SAR 11.1 million, compared to SAR 5.1 million a year earlier.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 156.10 | 134.20 | (14.0 %) |
| Gross Income | 16.31 | 22.06 | 35.2 % |
| Operating Income | 6.48 | 11.16 | 72.3 % |
| Net Income | 5.09 | 11.14 | 118.8 % |
| Average Shares | 5.00 | 5.00 | - |
| EPS (Riyals) | 1.02 | 2.23 | 118.8 % |
The profit increase was driven by the lower cost of revenue and higher other income compared to the previous year.
This came despite the decline in revenue attributable to a reduction in market prices for finished goods and a decline in sales volumes.
Shareholders’ equity, no minority interest, grew to SAR 74.9 million as of Dec. 31, 2023, from SAR 64.3 million in 2022.
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}}