Sumou Real Estate Co. reported a net profit of SAR 103 million for 2023, an increase of 18% compared to SAR 87.6 million a year earlier, due to an increase in the company's revenue from real estate project management, in addition to lower costs incurred from construction works.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 282.42 | 273.82 | (3.0 %) |
| Gross Income | 76.70 | 116.05 | 51.3 % |
| Operating Income | 66.09 | 102.86 | 55.6 % |
| Net Income | 87.64 | 103.01 | 17.5 % |
| Average Shares | 37.50 | 37.50 | - |
| EPS (Riyals) | 2.34 | 2.75 | 17.5 % |
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 66.44 | 79.55 | 19.7 % |
| Gross Income | 18.33 | 25.49 | 39.1 % |
| Operating Income | 14.71 | 18.53 | 26.0 % |
| Net Income | 15.72 | 24.78 | 57.6 % |
| Average Shares | 37.50 | 37.50 | - |
| EPS (Riyals) | 0.42 | 0.66 | 57.6 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 74.57 | 79.55 | 6.7 % |
| Gross Income | 35.18 | 25.49 | (27.5 %) |
| Operating Income | 32.35 | 18.53 | (42.7 %) |
| Net Income | 28.63 | 24.78 | (13.5 %) |
| Average Shares | 37.50 | 37.50 | - |
| EPS (Riyals) | 0.76 | 0.66 | (13.5 %) |
Q4 2023 net profit stood at SAR 24.8 million, a jump of 58% year-on-year (YoY).
On a quarterly basis, net profit decreased 13.5% from SAR 28.63 million.
Total shareholders’ equity, after minority interest, stood at SAR 536.71 million by Dec. 31, 2023, compared to SAR 534.18 million a year earlier.
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