View Real Estate net profit rises 7% to SAR 18.2M in 2023

27/03/2024 Argaam Exclusive

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Share Price

View United Real Estate Development Co.
73.50
(1.50) (2.00 %)

View United Real Estate Development Co. (VIEW)

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View United Real Estate Development Co. reported a net profit of SAR 18.2 million for 2023, a 7% growth from SAR 17 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Revenues 87.62 90.72 3.5 %
Gross Income 19.51 25.88 32.7 %
Operating Income 13.50 19.44 44.0 %
Net Income 17.01 18.22 7.1 %
Average Shares 2.20 3.30 50.0 %
EPS (Riyals) 7.73 5.52 (28.6 %)

The improved results were fueled by improved operating performance and lower cost of revenue due to a decline in direct costs on projects. This was offset by higher general and administrative expenses (G&As).



Total shareholders’ equity, no minority interest, stood at SAR 66.04 million by Dec. 31, 2023, compared to SAR 21.79 million a year ago.

 

Historical Data

Period

Revenue (SAR mln)

Net profit (SAR mln)

EPS (SAR /share)

H1 2022

36.48

0.37

0.17

H2 2022

51.14

16.64

5.55

H1 2023

41.28

3.81

1.27

H2 2023

49.44

14.41

4.42

 

View more financial results

 

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