Intelligent Oud Co. (iOud) reported an increase of 31% in its 2023 net profit to SAR 4.9 million, from SAR 3.7 million in the prior-year period.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 23.09 | 25.20 | 9.1 % |
| Gross Income | 14.45 | 17.87 | 23.7 % |
| Operating Income | 5.05 | 7.74 | 53.2 % |
| Net Income | 3.72 | 5.28 | 41.7 % |
| Average Shares | 1.30 | 1.63 | 25.0 % |
| EPS (Riyals) | 2.86 | 3.25 | 13.4 % |
The profit growth was spurred by better sales from the introduction of new offerings, higher selling rates, and the acquisition of new customers.
The company also reported lower raw material costs.
Shareholders’ equity, no minority interest, stood at SAR 40.56 million as of Dec. 31, 2023, up from SAR 22.01million a year earlier.
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