National Environmental Recycling Co. (Tadweeer) reported a net profit jump of 61% to SAR 18.1 million in 2022, compared to SAR 11.3 million a year earlier.
| Item | 2021 | 2022 | Change |
|---|---|---|---|
| Revenues | 153.60 | 402.45 | 162.0 % |
| Gross Income | 18.73 | 30.89 | 64.9 % |
| Operating Income | 10.68 | 23.40 | 119.1 % |
| Net Income | 11.27 | 18.12 | 60.8 % |
| Average Shares | 58.08 | 58.08 | - |
| EPS (Riyals) | 0.19 | 0.31 | 60.8 % |
This profit rise came as sales grew 163% year-on-year (YoY). This is in addition to the efficient management of the cost of sales as well as general and administrative expenses.
Total shareholders’ equity, no minority interest, stood at SAR 156.5 million by Dec. 31, 2022, compared to SAR 138.3 million a year earlier.
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