Sumou Real Estate Co. reported a net profit of SAR 87.6 million for 2022, an 8% rise from SAR 81.2 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 103.13 | 282.42 | 173.9 % |
| Gross Income | 61.59 | 76.70 | 24.5 % |
| Operating Income | 53.28 | 66.09 | 24.1 % |
| Net Income | 81.21 | 87.64 | 7.9 % |
| Average Shares | 37.50 | 37.50 | - |
| EPS (Riyals) | 2.17 | 2.34 | 7.9 % |
The company cited an increase in the full-year operating revenues to SAR 282 million, compared to SAR 103 million in 2021, mainly due to the high ratio of project completion during the year.
Finance costs fell by 82% year-on-year in 2022 due to reliance on own resources.
| Item | Q4 2021 | Q4 2022 | Change |
|---|
| Item | Q3 2022 | Q4 2022 | Change |
|---|---|---|---|
| Revenues | 59.91 | 66.44 | 10.9 % |
| Gross Income | 26.14 | 18.33 | (29.9 %) |
| Operating Income | 24.00 | 14.71 | (38.7 %) |
| Net Income | 26.46 | 15.72 | (40.6 %) |
| Average Shares | 37.50 | 37.50 | - |
| EPS (Riyals) | 0.71 | 0.42 | (40.6 %) |
Shareholders’ equity, after minority interest, rose to SAR 534.18 million as of Dec. 31, 2022, from SAR 454.57 million a year earlier.
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