Leen Alkhair Trading Co.’s net profit retreated 26% to SAR 8 million in H1 2023 from SAR 10.8 million a year earlier.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 109.59 | 117.72 | 7.4 % |
| Gross Income | 18.81 | 15.16 | (19.4 %) |
| Operating Income | 11.83 | 8.84 | (25.3 %) |
| Net Income | 10.84 | 7.98 | (26.4 %) |
| Average Shares | 7.34 | 8.16 | 11.1 % |
| EPS (Riyals) | 1.48 | 0.98 | (33.8 %) |
The company attributed the decrease in profit to higher costs of purchasing fruits and vegetables as well as an increase in shipping, packaging, and transportation costs.
This was despite an increase in the sales of vegetables and fruits by 7% year-on-year (YoY) to SAR 118 million.
Higher sales were supported by increased sales volume and prices of fruits and vegetables, in addition to an improvement in distribution channels. This was offset by a 14% increase YoY in sales costs because of higher transportation and shipping costs.
Total shareholders’ equity, no minority interest, reached SAR 142.23 million by the end of June 30, 2023, compared to SAR 95.15 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
91.19 |
14.25 |
3.49 |
|
H2 2021 |
97.37 |
6.21 |
1.52 |
|
H1 2022 |
109.59 |
10.84 |
2.95 |
|
H2 2022 |
118.98 |
12.34 |
3.02 |
|
H1 2023 |
117.72 |
7.98 |
1.95 |
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