Saudi Industrial Services Co. (SISCO) posted a net profit of SAR 64.4 million for the first nine months of 2023, compared to SAR 18.3 million a year earlier.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 717.01 | 1,105.03 | 54.1 % |
| Gross Income | 295.71 | 412.68 | 39.6 % |
| Operating Income | 159.61 | 262.60 | 64.5 % |
| Net Income | 18.29 | 64.40 | 252.1 % |
| Average Shares | 81.60 | 81.60 | - |
| EPS (Riyals) | 0.22 | 0.79 | 252.1 % |
The nine-month revenue, excluding accounting construction revenue, grew by 24.4% year-on-year (YoY) on the back of overall improvement across all segments.
In addition, gross profit for 9M 2023 reached SAR 412.7 million, up 39.6% YoY due to more conducive market conditions and improved global supply chains. Last year, the revenue of the company’s subsidiary, Kindasa Water Services Co., was negatively affected by a temporary decline in production.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 261.02 | 334.12 | 28.0 % |
| Gross Income | 105.81 | 147.74 | 39.6 % |
| Operating Income | 60.44 | 97.03 | 60.5 % |
| Net Income | 14.38 | 23.72 | 64.9 % |
| Average Shares | 81.60 | 81.60 | - |
| EPS (Riyals) | 0.18 | 0.29 | 64.9 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 336.01 | 334.12 | (0.6 %) |
| Gross Income | 135.84 | 147.74 | 8.8 % |
| Operating Income | 81.70 | 97.03 | 18.8 % |
| Net Income | 21.21 | 23.72 | 11.8 % |
| Average Shares | 81.60 | 81.60 | - |
| EPS (Riyals) | 0.26 | 0.29 | 11.8 % |
In Q3 2023, net profit amounted to SAR 23.7 million, leaping 64.8% from SAR 14.3 million in Q3 2022.
This was driven by the three-month revenue, excluding accounting construction revenue, which increased from SAR 214.7 million to SAR 276.1 million on the back of overall improvement across all segments. Gross profit for Q3 2023 reached SAR 147.7 million, up from SAR 105.8 a year before.
Compared to the previous quarter, Q3 net profit rose 11.7% from SAR 21.21 million.
Shareholders’ equity, excluding minority interest, amounted to SAR 1.53 billion as of Sept. 30, 2023, from SAR 1.44 billion in the year-ago period.
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}}