Sumou Real Estate Co. reported a 9% rise in H1 2023 net profit to SAR 49.6 million from SAR 45.5 million in H1 2022.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 156.08 | 119.70 | (23.3 %) |
| Gross Income | 32.22 | 55.38 | 71.9 % |
| Operating Income | 27.39 | 49.95 | 82.4 % |
| Net Income | 45.45 | 49.60 | 9.1 % |
| Average Shares | 37.50 | 37.50 | - |
| EPS (Riyals) | 1.21 | 1.32 | 9.1 % |
The higher profit was spurred by better revenues from the management of real estate projects, along with lower costs of construction works.
| Item | Q2 2022 | Q2 2023 | Change |
|---|
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 52.73 | 66.97 | 27.0 % |
| Gross Income | 12.69 | 42.69 | 236.4 % |
| Operating Income | 9.74 | 40.21 | 312.7 % |
| Net Income | 8.92 | 40.68 | 355.8 % |
| Average Shares | 37.50 | 37.50 | - |
| EPS (Riyals) | 0.24 | 1.08 | 355.8 % |
Total shareholders’ equity, no minority interest, reached SAR 545.3 million as of June 30, 2023, compared to SAR 481.9 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2018 |
119.54 |
29.18 |
0.78 |
|
H2 2018 |
138.21 |
38.30 |
1.02 |
|
H1 2019 |
95.28 |
30.36 |
0.81 |
|
H2 2019 |
84.71 |
39.44 |
1.05 |
|
H1 2020 |
49.91 |
36.05 |
0.96 |
|
H2 2020 |
47.25 |
35.33 |
0.94 |
|
H1 2021 |
33.34 |
47.50 |
1.27 |
|
H2 2021 |
69.79 |
33.71 |
0.90 |
|
H1 2022 |
156.08 |
45.45 |
1.21 |
|
H2 2022 |
126.34 |
42.19 |
1.13 |
|
H1 2023 |
119.70 |
49.60 |
1.32 |
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