Keir International Co. reported a net profit of SAR 9.3 million for 2023, down 53% from SAR 19.8 million a year earlier, due to project expansions, which increased operating expenses.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 171.41 | 209.17 | 22.0 % |
| Gross Income | 44.52 | 45.03 | 1.1 % |
| Operating Income | 27.84 | 23.99 | (13.8 %) |
| Net Income | 19.84 | 9.34 | (52.9 %) |
| Average Shares | 120.00 | 120.00 | - |
| EPS (Riyals) | 0.17 | 0.08 | (52.9 %) |
The company also cited higher wages and material prices, as well as increased cost of finance for existing projects due to the rise in SAIBOR.
Total shareholders’ equity, no minority interest, stood at SAR 242.90 million by Dec. 31, 2023, compared to SAR 241.83 million a year earlier.
|
Historical Quarterly Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
Earnings Per Share (SAR /share) |
|
H1 2021 |
56.65 |
4.06 |
0.04 |
|
H2 2021 |
112.72 |
12.88 |
0.11 |
|
H1 2022 |
63.59 |
6.64 |
0.06 |
|
H2 2022 |
107.82 |
13.2 |
0.11 |
|
H1 2023 |
77.56 |
1.29 |
0.01 |
|
H2 2023 |
131.61 |
8.05 |
0.07 |
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