Al Mujtama Alraida H1 profit rises 66% to SAR 11.3 mln

26/10/2023 Argaam Exclusive

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Share Price

Almujtama Alraida Medical Co.
31.20
0.20 0.65 %

Almujtama Alraida Medical Co. (ALMUJTAMA MEDICAL)

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Almujtama Alraida Medical Co. posted SAR 11.3 million net profit for the first half of 2023, an increase of 66% from SAR 6.8 million in H1 2022.



Financials (M)

Item 6m 2022 6m 2023 Change‬
Revenues 171.80 204.13 18.8 %
Gross Income 53.51 66.69 24.6 %
Operating Income 9.51 13.16 38.4 %
Net Income 6.84 11.33 65.7 %
Average Shares 9.50 9.50 -
EPS (Riyals) 0.72 1.19 65.7 %


The profit increase came as sales rose 19% year-on-year (YoY) to SAR 204.1 million and gross profit margins increased to 33% from 31% in the prior-year period. Operating profit margin was stable YoY at 6%, while financing expenses declined.

 

Meanwhile, Zakat expenses surged 73% in H1 2023.

 

Shareholders' equity (with no minority interest) amounted to SAR 129.6 million in H1 2023, compared to SAR 105.7 million in H1 2022.

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