Aqaseem Factory for Chemicals and Plastics Co.'s net earnings for H1 2023 surged to SAR 5.8 million, compared with SAR 1.7 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 61.24 | 74.62 | 21.9 % |
| Gross Income | 12.27 | 17.81 | 45.2 % |
| Operating Income | 2.24 | 6.46 | 188.6 % |
| Net Income | 1.71 | 5.77 | 237.0 % |
| Average Shares | 2.50 | 2.50 | - |
| EPS (Riyals) | 0.69 | 2.31 | 237.0 % |
This was due to a 5% year-on-year decline in the cost of sales on lower raw material prices, in addition to the company’s direction to pay cash to some suppliers to obtain discounted prices.
Shareholders’ equity, no minority interest, reached SAR 51.54 million as of June 30, 2023, compared with SAR 41.65 million a year earlier.
|
Historical Development of Financials (SAR mln) |
|||
|
Period |
Revenues (SAR mln) |
Net Earnings (SAR mln) |
EPS (SAR/Share) |
|
H1 2020 |
35.48 |
3.52 |
1.41 |
|
H2 2020 |
34.77 |
4.05 |
1.62 |
|
H1 2021 |
45.58 |
3.96 |
1.58 |
|
H2 2021 |
53.14 |
3.26 |
1.31 |
|
H1 2022 |
61.24 |
1.71 |
0.69 |
|
H2 2022 |
79.27 |
4.31 |
1.72 |
|
H1 2023 |
74.62 |
5.77 |
2.31 |
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