Arabian Contracting Co. (Al Arabia) reported a net profit after Zakat and tax of SAR 193.6 million for the first nine months of 2022, an increase of 43%, compared to SAR 135.7 million a year earlier.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 494.50 | 808.76 | 63.5 % |
| Gross Income | 222.96 | 341.42 | 53.1 % |
| Operating Income | 171.43 | 271.19 | 58.2 % |
| Net Income | 135.65 | 193.57 | 42.7 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 2.71 | 3.87 | 42.7 % |
The company attributed the profit growth to its focus on strategic objectives, continuation of digital transformation and expansion at a steady pace as planned. It also cited the continuity of innovation and excellence as well as maintaining the momentum of growth.
In Q3 2022, net profit after Zakat and tax rose 15% to SAR 65.9 million, from SAR 57 million in the year-earlier period, driven by the company's continuity of digital transformation and focus of on its strategy.
On a sequential basis, net profit rose 4.9% from SAR 62.8 million.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 188.39 | 257.72 | 36.8 % |
| Gross Income | 86.76 | 106.05 | 22.2 % |
| Operating Income | 68.84 | 85.49 | 24.2 % |
| Net Income | 57.09 | 65.89 | 15.4 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 1.14 | 1.32 | 15.4 % |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 263.64 | 257.72 | (2.2 %) |
| Gross Income | 106.26 | 106.05 | (0.2 %) |
| Operating Income | 79.69 | 85.49 | 7.3 % |
| Net Income | 62.79 | 65.89 | 4.9 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 1.26 | 1.32 | 4.9 % |
Total shareholders’ equity, with no minority interest, stood at SAR 831.161 million by the end of 9M 2022, compared to SAR 662.070 million in a year-earlier period.
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