Baazeem Trading Co. posted a net profit of SAR 13.7 million in H1 2023, 2% up from SAR 13.4 million a year earlier on an increase of 1.43% in sales.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 132.89 | 134.79 | 1.4 % |
| Gross Income | 49.68 | 51.66 | 4.0 % |
| Operating Income | 15.36 | 15.88 | 3.4 % |
| Net Income | 13.44 | 13.66 | 1.6 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 1.33 | 1.35 | 1.6 % |
In Q2 2023, the company reported a 3.7% YoY profit jump to SAR 4.72 million from SAR 4.55 million in Q2 2022, driven by a 1.53% sales uptick and improved cost of goods sold.
Sequentially, net profit fell 47.2% from SAR 8.94 million in Q1 2023, attributed to growth in the first-quarter sales due to the Ramadan season.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 58.45 | 59.35 | 1.5 % |
| Gross Income | 23.06 | 24.93 | 8.1 % |
| Operating Income | 5.29 | 5.75 | 8.6 % |
| Net Income | 4.55 | 4.72 | 3.7 % |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.45 | 0.47 | 3.7 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 75.44 | 59.35 | (21.3 %) |
| Gross Income | 26.72 | 24.93 | (6.7 %) |
| Operating Income | 10.13 | 5.75 | (43.2 %) |
| Net Income | 8.94 | 4.72 | (47.2 %) |
| Average Shares | 10.13 | 10.13 | - |
| EPS (Riyals) | 0.88 | 0.47 | (47.2 %) |
Shareholders’ equity, no minority interest, stood at SAR 192.90 million as of June 30, 2023, compared to SAR 189.81 million a year earlier.
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