Raoom Trading Co. reported a net profit of SAR 36.4 million in the first nine months of 2023, leaping 65% from SAR 22 million in the year-earlier period.
| Item | 9m 2022 | 9m 2023 | Change |
|---|---|---|---|
| Revenues | 98.20 | 100.61 | 2.5 % |
| Gross Income | 30.30 | 32.82 | 8.3 % |
| Operating Income | 24.13 | 25.11 | 4.1 % |
| Net Income | 22.02 | 36.43 | 65.5 % |
| Average Shares | 6.25 | 6.25 | - |
| EPS (Riyals) | 3.52 | 5.83 | 65.5 % |
The profit growth was due to the company’s investments in financial assets at fair value through profit or loss.
| Item | Q3 2022 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 33.16 | 32.13 | (3.1 %) |
| Gross Income | 8.32 | 11.52 | 38.6 % |
| Operating Income | 6.47 | 8.86 | 37.0 % |
| Net Income | 5.78 | 8.74 | 51.3 % |
| Average Shares | 6.25 | 6.25 | - |
| EPS (Riyals) | 0.92 | 1.40 | 51.3 % |
| Item | Q2 2023 | Q3 2023 | Change |
|---|---|---|---|
| Revenues | 30.44 | 32.13 | 5.6 % |
| Gross Income | 7.37 | 11.52 | 56.4 % |
| Operating Income | 4.77 | 8.86 | 85.8 % |
| Net Income | 14.84 | 8.74 | (41.1 %) |
| Average Shares | 6.25 | 6.25 | - |
| EPS (Riyals) | 2.37 | 1.40 | (41.1 %) |
In Q3 2023, net earnings leapt 51% to SAR 8.7 million, compared to SAR 6.4 million a year earlier on investments in financial assets at fair value through profit or loss.
On a sequential basis, Q3 net earnings fell 41.1% from SAR 14.84 million.
Total shareholders' equity, no minority rights, reached SAR 129.19 million at the end of the nine-month period, compared to SAR 111.22 million in the year-earlier period.
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