Al-Jouf Mineral Water Bottling Co. posted a net profit drop of 29% to SAR 4.1 million in 2023, compared to SAR 5.7 million in the year-earlier period.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 73.98 | 76.87 | 3.9 % |
| Gross Income | 30.59 | 39.01 | 27.5 % |
| Operating Income | 6.75 | 5.78 | (14.3 %) |
| Net Income | 5.74 | 4.11 | (28.5 %) |
| Average Shares | 4.69 | 4.69 | - |
| EPS (Riyals) | 1.22 | 0.88 | (28.5 %) |
The annual profit decline was due to the 35% year-on-year (YoY) increase in selling and distribution expenses. Further, general and administrative expenses climbed by 57% YoY due to the company’s expansion and sales team augmentation.
In 2023, financing costs also grew 140% YoY due to higher interest rates on loans. This was despite a 3.9% YoY hike in sales.
Shareholders' equity (no minority interest) amounted to SAR 87.19 million by the end of Dec. 31, 2023, up from SAR 83.15 million in the prior year.
|
Historical Data |
|||
|
Period |
Revenues (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020 |
40.66 |
2.27 |
0.48 |
|
H2 2020 |
30.97 |
2.30 |
0.49 |
|
H1 2021 |
32.53 |
2.60 |
0.55 |
|
H2 2021 |
35.10 |
2.10 |
0.45 |
|
H1 2022 |
36.08 |
2.81 |
0.60 |
|
H2 2022 |
37.90 |
2.93 |
0.62 |
|
H1 2023 |
37.49 |
2.31 |
0.49 |
|
H2 2023 |
39.38 |
1.79 |
0.38 |
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