Al-Jouf Agricultural Development Co. posted a 21% profit leap in 2023 to SAR 62 million, compared to SAR 51.1 million in the year-earlier period.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 342.00 | 426.44 | 24.7 % |
| Gross Income | 120.29 | 126.35 | 5.0 % |
| Operating Income | 56.70 | 56.17 | (0.9 %) |
| Net Income | 51.07 | 61.97 | 21.4 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 1.70 | 2.07 | 21.4 % |
The annual earnings were driven by better sales on increased sales volumes and a rise of SAR 9 million in the profits from investments at fair value.
On the other hand, selling, general and administrative expenses, as well as distribution costs increased. The company also reported higher Zakat charges.
The fourth-quarter net earnings soared 80% to SAR 16.5 million from SAR 9.1 million in Q4 2022.
On a sequential basis, the bottom line dropped 20.4% from SAR 20.7 million in Q3 2023.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 82.21 | 114.52 | 39.3 % |
| Gross Income | 24.27 | 26.52 | 9.3 % |
| Operating Income | 9.82 | 8.40 | (14.4 %) |
| Net Income | 9.17 | 16.48 | 79.8 % |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.31 | 0.55 | 79.8 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 149.57 | 114.52 | (23.4 %) |
| Gross Income | 43.04 | 26.52 | (38.4 %) |
| Operating Income | 21.43 | 8.40 | (60.8 %) |
| Net Income | 20.72 | 16.48 | (20.4 %) |
| Average Shares | 30.00 | 30.00 | - |
| EPS (Riyals) | 0.69 | 0.55 | (20.4 %) |
Shareholders’ equity, no minority interest, rose to SAR 718.6 million as of Dec. 31, 2023, from SAR 667.53 million a year earlier.
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}}