Al-Baha Investment and Development Co. swung to a net profit of SAR 3.5 million in 2023, from a net loss of SAR 8 million in the year-earlier period.
| Item | 2022 | 2023 | Change |
|---|---|---|---|
| Revenues | 11.52 | 16.06 | 39.5 % |
| Gross Income | 5.82 | 11.67 | 100.6 % |
| Operating Income | (1.60) | 10.79 | 772.8 % |
| Net Income | (7.98) | 3.50 | 143.8 % |
| Average Shares | 2,970.00 | 2,970.00 | - |
| EPS (Halala) | (0.27) | 0.12 | 143.8 % |
The positive results were buoyed by a 39% rise year-on-year (YoY) in revenue, thanks to a 74% increase in occupancy rates at the group’s complexes.
Further, the positive impact of the investment deals that were sealed in 2022 also appeared.
Al-Baha also reported YoY declines of 23% and 73% in the cost of revenue and financing expenses, respectively.
The company recorded zero offering expenses in 2023, compared to SAR 3.99 million a year earlier. It also recorded an impairment reversal in investment properties at SAR 4.67 million.
| Item | Q4 2022 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 3.54 | 4.36 | 23.2 % |
| Gross Income | 2.27 | 3.29 | 44.7 % |
| Operating Income | (2.61) | 6.96 | 366.4 % |
| Net Income | (3.08) | 3.29 | 206.8 % |
| Average Shares | 2,970.00 | 2,970.00 | - |
| EPS (Halala) | (0.10) | 0.11 | 206.8 % |
| Item | Q3 2023 | Q4 2023 | Change |
|---|---|---|---|
| Revenues | 4.63 | 4.36 | (5.7 %) |
| Gross Income | 3.49 | 3.29 | (5.8 %) |
| Operating Income | 2.35 | 6.96 | 196.1 % |
| Net Income | 1.36 | 3.29 | 141.8 % |
| Average Shares | 2,970.00 | 2,970.00 | - |
| EPS (Halala) | 0.05 | 0.11 | 141.8 % |
Total shareholders’ equity, after minority interest, rose to SAR 214.87 million as of Dec. 31, 2023, from SAR 211.38 million a year earlier.
Accumulated losses reached SAR 82.1 million by the end of the 12-month period, accounting for 27.7% of the company’s capital.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}