Natural Gas Distribution Co. (NGDC) posted a leap of 92% in H1 2023 net profit to SAR 1.8 million, compared to SAR 930,000 in the year-earlier period.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 43.25 | 47.68 | 10.2 % |
| Gross Income | 3.39 | 4.50 | 32.8 % |
| Operating Income | 0.97 | 1.48 | 52.6 % |
| Net Income | 0.93 | 1.78 | 91.5 % |
| Average Shares | 5.00 | 5.00 | - |
| EPS (Riyals) | 0.19 | 0.36 | 91.5 % |
The profit growth was due to higher revenues on an increase in natural gas consumption by the company’s customers, as well as lower operational consumption on the completion of depreciation of some gas network assets and the first natural gas network by the end of 2022.
Shareholders equity, no minority interest, came in at SAR 56.26 million as of June 30, 2023, up from SAR 54.61 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2020 |
44.49 |
2.49 |
0.50 |
|
H2 2020 |
44.76 |
1.93 |
0.38 |
|
H1 2021 |
44.93 |
1.23 |
0.25 |
|
H2 2021 |
44.66 |
1.25 |
0.25 |
|
H1 2022 |
43.25 |
0.93 |
0.19 |
|
H2 2022 |
47.76 |
2.36 |
0.47 |
|
H1 2023 |
46.68 |
1.78 |
0.36 |
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