Horizon Food Co. made a net profit of SAR 9.2 million in 2023, a rise of 4% from SAR 8.9 million in 2022.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 66.65 | 55.12 | (17.3 %) |
| Gross Income | 19.30 | 16.48 | (14.6 %) |
| Operating Income | 9.13 | 6.98 | (23.5 %) |
| Net Income | 8.89 | 9.25 | 4.1 % |
| Average Shares | 8.00 | 8.00 | - |
| EPS (Riyals) | 1.11 | 1.16 | 4.1 % |
The company reported a decline in cost and the reversal of SAR 2.3 million of administrative expenses related to the board remuneration and its committees as well as the remuneration of CEO and employees for 2022. This was based on the resolution of the company’s shareholders in the ordinary general meeting, held on Jan. 7, 2024, and the board’s resolution on March 5, 2024.
Meanwhile, revenue dropped by 17.3% year-on-year (YoY) to SAR 55.11 million in 2023.
Shareholders’ equity, no minority interest, increased to SAR 102.35 million as of Dec. 31, 2023, from SAR 93.05 million a year earlier.
|
Historical Data |
|||
|
Period |
Revenue (SAR mln) |
Net Profit (SAR mln) |
EPS (SAR) |
|
H1 2021 |
22.11 |
3.62 |
0.45 |
|
H2 2021 |
31.64 |
6.55 |
0.82 |
|
H1 2022 |
35.70 |
4.68 |
0.59 |
|
H2 2022 |
30.95 |
4.21 |
0.53 |
|
H1 2023 |
26.33 |
2.61 |
0.33 |
|
H2 2023 |
28.78 |
6.64 |
0.83 |
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