Balady Poultry Trading Co. reported a net profit of SAR 24.3 million in Q1 2023, compared to SAR 9 million a year earlier.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 122.92 | 177.17 | 44.1 % |
| Gross Income | 12.34 | 28.37 | 129.9 % |
| Operating Income | 7.44 | 22.80 | 206.4 % |
| Net Income | 9.00 | 24.33 | 170.4 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 1.37 | 3.70 | 170.4 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 187.91 | 177.17 | (5.7 %) |
| Gross Income | 22.24 | 28.37 | 27.6 % |
| Operating Income | 16.40 | 22.80 | 39.0 % |
| Net Income | 19.02 | 24.33 | 27.9 % |
| Average Shares | 6.57 | 6.57 | - |
| EPS (Riyals) | 2.89 | 3.70 | 27.9 % |
The profit growth was driven by a 44.14% year-on-year (YoY) increase in sales revenues to approximately SAR 177.17 million. In addition, the average daily production reached 151,000 birds during Q1 2023, compared to 114,000 a year earlier.
Compared with the previous quarter, Q1 2023 net earnings rose 27.9% from SAR 19.02 million, on lower cost of sales due to the decline in raw-material prices.
Shareholders’ equity, no minority interest, stood at SAR 154.93 million as of March 31, 2023, compared to SAR 75.19 million in the year-earlier period.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}