Group Five turns to profit of SAR 9.7 mln in H1 2023

06/08/2023 Argaam Exclusive

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Group Five Pipe Saudi Co.
39.10
0.00 0.00 %

Group Five Pipe Saudi Co. (GROUP FIVE)

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Group Five Pipe Saudi Co. reported a net profit of SAR 9.7 million in H1 2023, against a loss of SAR 18.7 million a year earlier.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 58.40 311.48 433.4 %
Gross Income (7.11) 30.42 528.1 %
Operating Income (13.13) 23.32 277.5 %
Net Income (18.73) 9.68 151.7 %
Average Shares 28.00 28.00 -
EPS (Riyals) (0.67) 0.35 151.7 %

The profit was driven by increased number and size of the implemented projects in addition to the stability of raw material prices.



Shareholders’ equity, no minority interest, stood at SAR 322.95 million as of June 30, 2023, from SAR 315.74 million a year earlier.

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