Baazeem Trading Co. reported a slight rise in Q1 2023 net profit to SAR 8.94 million, compared to SAR 8.89 million in the first quarter of 2022.
| Item | Q1 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 74.44 | 75.44 | 1.4 % |
| Gross Income | 26.62 | 26.72 | 0.4 % |
| Operating Income | 10.07 | 10.13 | 0.6 % |
| Net Income | 8.89 | 8.94 | 0.6 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.88 | 0.88 | 0.6 % |
| Item | Q4 2022 | Q1 2023 | Change |
|---|---|---|---|
| Revenues | 67.25 | 75.44 | 12.2 % |
| Gross Income | 25.74 | 26.72 | 3.8 % |
| Operating Income | 6.19 | 10.13 | 63.6 % |
| Net Income | 4.29 | 8.94 | 108.5 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.42 | 0.88 | 108.5 % |
The profit increase was driven by a 1.35% year-on-year (YoY) rise in sales.
Compared to Q4 2022, the first-quarter net profit soared from SAR 4.29 million on sales growth triggered by Ramadan season.
Shareholders’ equity, no minority interest, declined to SAR 199.32 million by the end of the three-month period, from SAR 202.97 million a year earlier.
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