Knowledge Economic City (KEC) trimmed H1 2023 net loss to SAR 10.6 million from SAR 15.4 million in the year-earlier period, driven by higher sales and improved gross profit ratios.
| Item | 6m 2022 | 6m 2023 | Change |
|---|---|---|---|
| Revenues | 29.42 | 52.13 | 77.2 % |
| Gross Income | 9.39 | 19.68 | 109.5 % |
| Operating Income | (17.94) | (9.09) | 49.3 % |
| Net Income | (15.37) | (10.60) | 31.0 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.05) | (0.03) | 31.0 % |
KEC also narrowed Q2 2023 loss to SAR 1.5 million from SAR 8.6 million in the year-earlier period on higher sales and improved gross profit ratios.
On a sequential basis, Q2 2023 net loss fell by 83.3% from SAR 9 million in Q1 2023.
| Item | Q2 2022 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 13.69 | 34.07 | 148.9 % |
| Gross Income | 4.51 | 13.11 | 190.7 % |
| Operating Income | (10.28) | (2.16) | 79.0 % |
| Net Income | (8.64) | (1.52) | 82.4 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.03) | 0.00 | 82.4 % |
| Item | Q1 2023 | Q2 2023 | Change |
|---|---|---|---|
| Revenues | 18.05 | 34.07 | 88.8 % |
| Gross Income | 6.57 | 13.11 | 99.5 % |
| Operating Income | (9.16) | (2.16) | 76.5 % |
| Net Income | (9.08) | (1.52) | 83.3 % |
| Average Shares | 339.30 | 339.30 | - |
| EPS (Riyals) | (0.03) | 0.00 | 83.3 % |
Total shareholders’ equity, excluding minority interest, stood at SAR 3.04 billion by the end of H1 2023, compared to SAR 3.06 billion in the year-earlier period.
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