Riyadh Cables Group Co. reported a net profit of SAR 124.9 million in Q1 2023, up 47% from SAR 85 million in the year earlier period, spurred by a 24.1% higher sales revenue on a 44% increase in gross profit.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 1,561.18 | 1,937.28 | 24.1 % |
| Gross Income | 151.85 | 218.74 | 44.0 % |
| Operating Income | 101.57 | 155.50 | 53.1 % |
| Net Income | 85.01 | 124.92 | 46.9 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.57 | 0.83 | 46.9 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 1,830.72 | 1,937.28 | 5.8 % |
| Gross Income | 189.59 | 218.74 | 15.4 % |
| Operating Income | 142.16 | 155.50 | 9.4 % |
| Net Income | 106.32 | 124.92 | 17.5 % |
| Average Shares | 150.00 | 150.00 | - |
| EPS (Riyals) | 0.71 | 0.83 | 17.5 % |
On a sequential basis, net earnings grew 17.5% from SAR 106.32 million in Q4 2022, due to a 5.8% increase in sales revenue on an 18.6% higher gross profit.
Total shareholders’ equity, after minority interest, stood at SAR 2.26 billion as of March 31, 2023, compared to SAR 2.11 billion in the prior-year period.
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