Banan Real Estate H1 2023 profit falls 8% to SAR 13.8 mln

10/08/2023 Argaam Exclusive

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Share Price

Banan Real Estate Co.
5.80
(0.01) (0.17 %)

Banan Real Estate Co. (BANAN)

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Banan Real Estate Co. reported a net profit of SAR 13.8 million in H1 2023, a decline of 8% compared to SAR 15 million in the year-earlier period.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 31.07 32.42 4.3 %
Gross Income 24.26 25.79 6.3 %
Operating Income 20.60 23.20 12.6 %
Net Income 14.98 13.81 (7.8 %)
Average Shares 200.00 200.00 -
EPS (Riyals) 0.07 0.07 (7.8 %)

The profit decline was driven by an increase in financing charges of SAR 1.17 million as a result of a rise in SAIBOR rates and financial leverage. In addition, the company's profit share in the associate company fell by SAR 914,000.



Total shareholders’ equity, after minority interest, reached SAR 366.6 billion at the end of H1 2023, compared with SAR 346.7 billion a year earlier.

 

Historical Development of Financial Statements

Period

Revenue

Net Profit

EPS

H1 2020

6.25

8.46

0.04

H2 2020

6.24

8.04

0.04

H1 2021

8.92

12.91

0.06

H2 2021

9.98

11.42

0.06

H1 2022

31.07

14.98

0.07

H2 2022

28.38

11.53

0.06

H1 2023

32.41

13.81

0.07

 

View more financial results

 

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The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

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