Baazeem Trading Co. reported a net profit of SAR 17.6 million for the first nine months of 2023, slightly higher than SAR 17.5 million in the same period last year, boosted by lower cost of finance.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 196.10 | 195.25 | (0.4 %) |
| Gross Income | 72.14 | 71.90 | (0.3 %) |
| Operating Income | 20.73 | 20.78 | 0.3 % |
| Net Income | 17.49 | 17.56 | 0.4 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 1.73 | 1.73 | 0.4 % |
The company reported a net profit of SAR 3.9 million for Q3 2023, a 4% year-on-year (YoY) decrease, due to a 4.35% fall in sales.
On a sequential basis, Q3 net profit fell 17.4% from SAR 4.72 million on higher cost of sales.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 63.21 | 60.46 | (4.4 %) |
| Gross Income | 22.46 | 20.24 | (9.9 %) |
| Operating Income | 5.36 | 4.90 | (8.7 %) |
| Net Income | 4.04 | 3.90 | (3.7 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.40 | 0.38 | (3.7 %) |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 59.35 | 60.46 | 1.9 % |
| Gross Income | 24.93 | 20.24 | (18.8 %) |
| Operating Income | 5.75 | 4.90 | (14.9 %) |
| Net Income | 4.72 | 3.90 | (17.4 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.47 | 0.38 | (17.4 %) |
Total shareholders’ equity, after minority interest, reached SAR 189.71 million as of Sept. 30, 2023, from SAR 186.76 million a year earlier.
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